WSR 12-15-057




[ Filed July 17, 2012, 10:47 a.m. ]

Notice of Repeal of Interpretive Statement No. 23

Under the Securities Act of Washington

The department of financial institutions recently adopted amendments to the "accredited investor" definition set forth in chapter 460-44A WAC to align the definition with that adopted by the Securities and Exchange Commission. The amendments address the treatment of indebtedness secured by an investor's primary residence, which was previously addressed in Securities Act Interpretive Statement No. 23. In light of the recent adoption of amendments to the "accredited investor" definition, the department of financial institutions hereby repeals the following interpretive statement under the Securities Act, chapter 21.20 RCW:

Securities Act Interpretive Statement No. 23 - Accredited Investor Definition - Indebtedness Secured By Primary Residence.

Further information about the recent rule making is available on our web site at Please contact Michelle Webster at (360) 902-8736 or with any questions.

Scott Jarvis


Washington State Code Reviser's Office