no-action letter

Definition of "no-action letter"
  1. A correspondence from a lawyer representing the Securities and Exchange Commission suggesting that the agency refrain from bringing charges in relation to a suspected and investigated breach of SEC guidelines or protocols
How to use "no-action letter" in a sentence
  1. The company received a no-action letter from the SEC attorney, relieving them from the fear of prosecution.
  2. A no-action letter can serve to ease the concerns of a firm suspected of breaching SEC regulations.
  3. Despite thorough investigation, the SEC decided to issue a no-action letter, deciding not to proceed with litigation.

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