WSR 98-07-102
PREPROPOSAL STATEMENT OF INQUIRY
DEPARTMENT OF
FINANCIAL INSTITUTIONS
[Filed March 18, 1998, 10:39 a.m.]
Subject of Possible Rule Making: To amend WAC 460-44A-050 to address the scope of the term "issuer isolated transaction" in addition to the term "nonissuer isolated transaction" currently defined in the rule
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 21.20.450
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: To more completely explain the scope of the isolated transaction exemption of RCW 21.20.320(1) relating to both issuer and nonissuer isolated transactions. The scope of the isolated issuer transaction is currently addressed in Securities Act Interpretive Statement 08, which may appropriately be incorporated into the rule addressing isolated nonissuer transactions
Process for Developing New Rule: Following review of this rule according to Executive Order 97-02, Securities Division staff has recommended that Securities Act Interpretive Statement 08 should be incorporated into a rule. This action is consistent with RCW 34.05.230, which provides that to better inform and involve the public, agencies are encouraged to convert long-standing interpretive and policy statements into rules
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Brad Faber [Ferber], Securities Division, P.O. Box 9033, Olympia, WA 98507-9033, (360) 902-8760, FAX (360) 586-5068
March 18, 1998
John L. Bley
Director