no-action letter investment & finance definition
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.
See no-action letter in Wall Street Words
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.