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 ?
to SEC no-action letters that provide guidance to the business and
AUSTIN, Texas, March 7, 2014 /PRNewswire-iReach/ -- Neuric LLC a privately held company based in Austin announced the release of its user friendly SEC no-action letters application today.
In addition to the creation of new funds and products, Fred regularly advises clients with respect to ongoing operations, such as periodic reporting and filing, annual reviews and approvals, exemptive applications, no-action letters, advertising, U.
The Cadwalader Cabinet hosts all of these guides on-line, so along with tens of thousands of other documents, including status, rules, no-action letters, releases, case law and relevant legislation.
For readers wishing to explore certain topics in depth, certain key cases, SEC releases, and no-action letters have been cited.
Content includes analysis of regulatory events impacting hedge funds including SEC rulemaking, enforcement actions, interpretations, FAQs, concept releases and no-action letters, news from banking regulators, coverage of U.
A few no-action letters have been issued to CPAs, providing them with some relief from the narrow interpretation of Release No.
Over the past two decades, SEC staff has issued no-action letters to investors that have acquired an expanding list of consent rights over public utilities or other holding companies.
Based on the proposed rule, SEC staff will now include expiration dates in its no-action letters.
The SEC provides some advance guidance through no-action letters and clarifies developing issues by publishing frequently asked questions (for example, see www.
In addition, this comprehensive source provides easy access to pertinent primary source materials, such as Securities and Exchange Commission rules, releases, and no-action letters and materials from the National Association of Securities Dealers, Inc.
No-action letters are administrative review letters aimed at improving the transparency of administration by replying in writing to inquiries from companies and individuals about the government's interpretations of laws affecting them.