WSR 97-20-073

EXPEDITED REPEAL

DEPARTMENT OF

FINANCIAL INSTITUTIONS

(Securities Division)

[Filed September 26, 1997, 11:20 a.m.]

The Following Sections are Proposed for Expedited Repeal: WAC 460-40A-015 through 460-40A-040.

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, Securities Division, P.O. Box 9033, Olympia, WA 98507-9033, FAX (360) 586-5068, e-mail bbeatty@dfi.wa.gov.

Reason the Expedited Repeal of the Rule is Appropriate: Chapter 460-40A WAC contains regulations pertaining to investment company securities. The National Securities Markets Improvement Act of 1996 (NSMIA) preempted state regulation of such securities. The regulations in this chapter are therefore no longer enforceable and should be repealed.

September 26, 1997

Deborah Bortner