Washington State Amends Franchise Registration Rules

The Securities Division of the Washington Department of Financial Institutins recently filed a Rule Making Order amending its franchise registration rules.

The Securities Division amended the franchise registration rules set forth in chapter 460-80
WAC in light of the amended franchise disclosure rules adopted by the Federal Trade
Commission in 2007 and their preemptive effect on state laws, as well as to better coordinate its rules with other states that regulate the offer and sale of franchises through the adoption of the instructions for the preparation of the Franchise Disclosure Document in the 2008 Franchise Registration and Disclosure Guidelines promulgated by the North American Securities Administrators Association, Inc.

The Securities Division also amended these rules to reflect current practices and filing requirements, to codify several interpretive and policy statements, and to make minor corrections.

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