Broker-Dealer Rules - Amendments

The Securities Division is considering amendments to the rules regarding broker-dealers and salespersons of broker-dealers in Chapters 460-20B WAC, 460-21B WAC, and 460-22B WAC.

A draft of possible amendments (“Draft Rules”) and a Section-By-Section Analysis of the Draft Rules are linked below.

Survey
Prior to formally proposing the Draft Rules, the Securities Division must assess the economic impact of the rules on small businesses in accordance with the Regulatory Fairness Act, Chapter 19.85 RCW. To make this assessment, the Securities Division is conducting a survey of broker-dealers registered in Washington. Participation is voluntary. Broker-dealer firms may complete the survey until January 31, 2024. The survey is available at https://www.surveymonkey.com/r/M9JPDPW

Next Steps
After the survey period closes, the Securities Division will analyze the results. We may make changes to the Draft Rules based on the feedback from the survey. We will then formally propose the rules in a CR-102 filing with the Washington Code Reviser’s Officer. This will open a formal comment period on the proposed rules. The CR-102 will also set a date for a public hearing on the proposed rules. We will send notice of such proceedings to all registered broker-dealers and our rulemaking interested persons list.