WSR 22-21-059

PERMANENT RULES

DEPARTMENT OF

FINANCIAL INSTITUTIONS

(Securities Division)

[Filed October 12, 2022, 12:56 p.m., effective November 12, 2022]

Effective Date of Rule: Thirty-one days after filing.

Purpose: To repeal the entirety of chapter 460-33A WAC, which created an optional method of registration for mortgage paper securities. The last issuer to register an offering of mortgage paper securities under these rules was in 2012. Changes in federal law over the past 10 years, including the Jumpstart Our Business Startups (JOBS) Act of 2012, have diminished the usefulness of the rules contained in chapter 460-33A WAC.

Citation of Rules Affected by this Order: Repealing chapter 460-33A WAC.

Statutory Authority for Adoption: RCW 21.20.450.

Adopted under notice filed as WSR 22-16-117 on August 3, 2022.

A final cost-benefit analysis is available by contacting Patrick Stickney, P.O. Box 9033, Olympia, WA 98507-9033, phone 360-902-8760, email Patrick.Stickney@dfi.wa.gov, website www.dfi.wa.gov. No cost-benefit analysis was required to be prepared.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.

Number of Sections Adopted at the Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.

Number of Sections Adopted on the Agency's own Initiative: New 0, Amended 0, Repealed 31.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 31.

Number of Sections Adopted using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 0, Repealed 0.

Date Adopted: October 12, 2022.

Charles Clark

Director

OTS-3993.1

The following chapter of the Washington Administrative Code is repealed: