(1) A registered entity must apply to ecology before bidding in each auction. To apply to bid in an auction each registered entity must:
(b) By the auction application deadline, which is no later than 30 calendar days before the day of the auction, submit the following information to ecology:
(i) The name, contact information, and holding account number of the registered entity.
(ii) The names and identification numbers of all designated account representatives of the registered entity.
(iii) The name and contact information of any consultant that provides advice related to the auction participant's bidding strategy and, if applicable, the name of the consultant's employer.
(iv) The form of bid guarantee to be given.
(c) No later than 12 calendar days before the day of the auction, submit a bid guarantee meeting the requirements of WAC
173-446-325.
(2) If the registered entity has retained a cap and invest consultant or advisor regarding auction bidding strategy, the registered entity must:
(a) Ensure against the consultant or advisor transferring the registered entity's information to other auction participants or coordinating the bidding strategy among participants.
(b) Inform the consultant or advisor of the prohibition on sharing information with other auction participants and ensure the consultant or advisor has read and acknowledged the prohibition under penalty of perjury.
(3) No later than 15 calendar days before the day of an auction, a cap and invest consultant or advisor advising on bidding strategy must provide to ecology the following information:
(a) Names of the registered entities participating in the cap and invest program that are being advised;
(b) Description of the advisory services being performed; and
(c) Assurance under penalty of perjury that the advisor is not transferring to or otherwise sharing information with other auction participants.
(4) Subject to subsection (5) of this section, upon receiving an application from a registered entity that meets the requirements set out in subsection (1) of this section, ecology shall permit the registered entity to bid in the auction.
(5) Ecology shall refuse permission to bid in an auction if any of the following circumstances apply:
(a) The registered entity has given false or misleading information in the application.
(b) The registered entity has failed to disclose information required under subsection (1) of this section.
(c) The registered entity has disclosed auction-related information in violation of WAC
173-446-317.
(d) The registered entity's cap and invest accounts are subject to conditions under this rule or imposed by ecology that prohibit participation in auctions or otherwise prevent allowances or credits from being transferred to the registered entity's cap and invest accounts.
(e) A bid guarantee that has been submitted in the form of a wire transfer has not been deposited into an escrow account established by the financial services administrator or the institution indicated by the financial services administrator.
(6) Any registered entity requesting permission to participate in an auction or participating in an auction must provide ecology on request within five business days of the request any additional information concerning its participation in the auction.
