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 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.

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.

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NMS
NO
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Financial Dictionary

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