no-action letter

no-action letter definition - finance
A letter written by the Securities and Exchange Commission (SEC) that says it will not take any action against a corporation that might potentially be violating the letter of the law. No-action letters are requested by corporations from the SEC before it undertakes any action that might potentially violate the letter of the law.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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