Rules Proposed for Expedited Repeal Meet the Following Criteria: Rule is no longer necessary because of changed circumstances.

Any person who objects to the repeal of the rule must file a written objection to the repeal within thirty days after publication of this preproposal statement of inquiry.

Address Your Objection to: William M. Beatty, Department of Financial Institutions, Securities Division, P.O. Box 9033, Olympia, WA 98507-9033, e-mail bbeatty@dfi.wa.gov, fax (360) 704-6923.

Reason the Expedited Repeal of the Rule is Appropriate: Chapter 460-70 WAC, Commodity broker-dealers, was adopted pursuant to the Commodities Act, chapter 21.30 RCW, as passed in 1986. A subsequent amendment to that act expanded the exemptions to commodity broker-dealer registration. The Securities Division has not had an application for commodity broker-dealer registration in over ten years. It therefore appears that the exemptions in the Commodities Act have eliminated the requirement for commodity broker-dealer registration.

June 22, 1998

Deborah Bortner

Director of Securities