no-action letter

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No-action letter

A letter from the Securities and Exchange Commission agreeing that the commission will take no civil or criminal action against a party, regarding a specific activity.

No-Action Letter

A letter from the SEC stating that it will seek no civil or criminal penalties for a given activity. The SEC sends no-action letters in response to inquiries from organizations regulated by it. For example, if a company wishes to take a certain action but is uncertain as to its legality, it requests clarification from the SEC. Receiving a no-action letter equates to permission to take the action in question.

no-action letter

A response from the SEC staff to an individual inquiry, stating that the staff will recommend to the Commission that no action be taken on a specific transaction if the transaction is carried out in the fashion indicated.

References in periodicals archive ?

This is in response to the SEC's recent No-Action letter which clarifies the utilization of the internet for online Private Placements under rule 506(b).

SendPPM.com Announces Online 506(b) PPM Platform Compliance with SEC No-Action Letter Guidelines

Lawyers told Compliance Complete the card mail-outs were likely to breach laws governing unsolicited offers of financial products, but ASIC's no-action letter meant the matter was unlikely to ever go before the courts.

Qantas and Virgin Australia plan to send unsolicited debit cards to millions of frequent flyer members

The prize everyone wants to achieve is a no-action letter.

Fall in line: don't get caught out of compliance with new fee disclosure rules. Here's how to avoid that dreadful audit

This is welcome news for REITs and confirms what some practitioners had either assumed or hoped would be the case since the SEC's Division of Investment Management issued a no-action letter on Oct.

REITs may treat money market funds as a cash item

Ford did that only after getting the Securities and Exchange Commission to write a so-called no-action letter that would allow the company to issue a prospectus without including the bond's normally required ratings from the major ratings agencies.

United States : A Key Bond Market Thaws, but It May Be Only Temporary

The new CFTC amendment adds new terms and conditions that must be satisfied by DME within 120 days in order to maintain the relief granted by the no-action letter.

DME oil contract faces US hurdle

NRSRO status was obtained by requesting a staff no-action letter from the SEC.

Credit Rating Agency Reform law attests to FEI's influence

Smithfield said the competition committee issued a no-action letter to Maple Leaf, clearing the deal in Canada.

Smithfield Foods Inc. said last week that the planned sale of its Canadian pork processing operation to Canada's Maple Leaf Foods Inc. has cleared the Canadian Competition Bureau, the last condition for closing the sale

CPAs and audit committees should consider seeking assurance from the SEC on questionable areas through a no-action letter, which may take up to 90 days.

Tax services after Sarbanes-Oxley: how to cope in an uncertain present

Securities and Exchange Commission for advice, in the form of a no-action letter, as to what fundraising Anka could do without being licensed as a securities broker.

When finders are losers: Licensing of "finders" under the securities laws. (Of Counsel)

The government intends to establish guidelines for the no-action letter system by the March 31, 2001, end of fiscal 2000 to pave the way for its launch in the three areas at the start of fiscal 2001, the officials said.

'No-action letters' to be implemented in 3 areas from April

The SEC's most significant change involves a reversal of its 1992 no-action letter in a controversy involving Cracker Barrel Old Country Store.