SEC Issues No-Action Relief Regarding Contingent Offerings under SEA Rule 15c2-4

The SEC issued a no-action letter granting FOLIOfn Investments ("Folio") relief from Exchange Act Rule 15c2-4. The no-action letter concerns the holding of customer funds received in contingent offerings. The relief will allow Folio to hold customer funds, pending the closing of the offering, in an FDIC-insured bank account.

See: SEC No-Action Letter: FOLIOfn Investments, Inc.- Request for No-Action Relief from Rule 15c2-4(b)(1).See also: Securities Exchange Act Rule 15c2-4 ("Transmission or Maintenance of Payments Received in Connection with Underwritings").