No-Action Letters in the United States

Finding No-Action Letters (Securities Law)

Note: Be sure to check the currency, coverage, and status (official or unofficial) of all sources.

Not all sources listed on this entry contain all No-Action letters issued by the SEC, but the list on this page provides suggestions for where to look for No-Action letters.

• SEC Staff No Action, Interpretive and Exemptive Letters website – On this site, the No-Action letters are divided according to division: Division of Corporation Finance, Division of Investment Management, Division of Market Regulation, Office of the Chief Accountant (see below).
• CCH’s Federal Securities Law Reporter looseleaf and the electronic version of the Federal Securities Law Reporter. After clicking on the link above, click on “CCH Business & Finance Research Network,” then on “Enter” and then click on the “Securities” tab.
• In Lexis: SEC No-Action, Exemptive & Interpretative Letters (FEDSEC; NOACT)
• In Westlaw: SEC No-Action Letters (FSEC-NAL)

Division of Corporation Finance: No-Action, Interpretive and Exemptive Letters

This SEC webpage contains Division of Corporation Finance no-action, interpretive and exemptive letters dated after January 15, 2002. The user may submit a request for copies of Division of Corporation Finance no-action, interpretive and exemptive letters issued before that date. Selected letters issued before January 15, 2002 may appear in other locations on this website.

The No-Action Letters are indexed in the following categories:

• Subject Categories
• Subject Category List of No-Action Letters
• Alphabetical List of No-Action Letters
• Chronological List of No-Action Letters

Division of Investment Management: Staff No-Action and Interpretive Letters

This page contains Division of Investment Management no-action letters dated on or after January 1, 2001. Division of Investment Management no-action letters issued before that date may be obtained for a copy and processing fee.

The No-Action Letters are indexed in the following categories:

• Subject Categories
• Subject Category List of No-Action Letters
• Alphabetical List of No-Action Letters
• Chronological List of No-Action Letters

Division of Trading and Markets

Exemptive Orders and Exemptive, Interpretive, and No-Action Letters

This page contains Division of Trading and Markets no-action letters dated on or after January 1, 2002. Division of Trading and Markets no-action letters issued before that date may be obtained by submitting a request for a paper copy. Selected letters issued before January 1, 2002 may appear in other places on this website.

Procedures applicable to requests for no-action and interpretive letters are available in Securities Act Release No. 6269.

The No-Action Letters are indexed in the following categories:

• Subject Categories for No-Action Letters
• Subject Category List of No-Action Letters
• Selected Class Letters
• Alphabetical List of No-Action Letters
• Chronological List of No-Action Letters
• Chronological List of Interpretive Letters
• Chronological List of Exemptive Orders

Office of the Chief Accountant

It publishes “Staff Letters to Industry”.