WSR 12-03-115

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

FINANCIAL INSTITUTIONS
(Securities Division)

[ Filed January 17, 2012, 3:55 p.m. ]

Subject of Possible Rule Making: The division is considering amending WAC sections to correct references made to RCW 21.20.005, which are inaccurate due to a reordering and renumbering of the definitions contained therein. The impacted sections are WAC 460-10A-215, 460-20B-035, 460-24A-020, 460-24A-045, 460-33A-010, 460-33A-015, and 460-44A-501.

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: RCW 21.20.005 was revised by the office of the code reviser pursuant to RCW 1.08.015 (2)(k). This revision resulted in a renumbering of the definitions found in RCW 21.20.005. As a result, the Washington Administrative Code now contains several inaccurate references. The proposed rule making would correct these inaccuracies. By engaging in this rule making, the government and the public will be benefited through more efficient and accurate regulation and communication.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: The amendments that the division is considering affect the regulation of securities, investment advisers, and broker-dealers. Securities, broker-dealers, and investment advisers are subject to regulation by the Securities and Exchange Commission under federal law. Further, broker-dealers and their representatives are subject to the regulation of FINRA, a self-regulatory organization authorized under federal law. However, the amendments considered by the division create no necessity to coordinate our rules with other federal or state agencies.

Process for Developing New Rule: The division is soliciting comments from interested persons and will adopt rules only after the consideration of public comments.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Dan Matthews, Department of Financial Institutions, Securities Division, P.O. Box 9033, Olympia, WA 98507-9033, phone (360) 902-8785, fax (360) 704-6496, e-mail dmatthews@dfi.wa.gov.

January 11, 2012

William M. Beatty

Director

Securities Division

Washington State Code Reviser's Office