Section 26-B247. NO ACTION LETTERS AND INTERPRETIVE OPINIONS

 

247.1In case of any question concerning the Act, the Director's staff may in his sole discretion entertain a request for a no-action letter or interpretive opinion. If issued, a no-action letter or an interpretive opinion only expresses the current position of the Director with respect to possible enforcement action, and is not binding on the Commissioner or third parties. A request for a no-action letter or interpretive opinion must be in writing and in the format described in SEC Release No. 33-6269, (Procedures Applicable to Request for No-Action and Interpretive Letters, December 5, 1980).

 

247.2No person may rely on oral statements by the staff of the Department or represent that the staff or any unit of the Department has taken a no-action position or issued an interpretation based on an oral statement by a staff member.

 

247.3The Securities Bureau will maintain all no-action letters and interpretive opinions issued. Copies of such letters may be reviewed in the Department's office and copies thereof obtained upon payment of reasonable costs of duplication.

 

247.4A person requesting a no action letter or interpretive opinion shall pay a fee as provided in § 249.10.

 

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Amended by Emergency Rulemaking published at 47 DCR 9910 (December 15, 2000) [EXPIRED]; as amended by Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 48 DCR 3952 (May 4, 2001) [EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 48 DCR 9177 (October 5, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 10879 (November 30, 2001).