SEC no-action letter

SEC no-action letter
USA
A letter that is issued by the SEC stipulating that it does not object to a course of action proposed by the issuer. If the staff of the SEC issues such a letter, it generally confirms in the letter that it will not recommend that the SEC take enforcement action relating to the proposed action provided that the specific facts and circumstances presented by the issuer do not change.
See Practice Note, Registration Process: SEC Review (www.practicallaw.com/5-380-8011).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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