SB 974- This act revises varies aspects of securities regulation within Chapter 409, RSMo. Many changes are grammatical in nature.

Prohibitions against insider trading of securities is added to Section 409.101, RSMo.

Broker-dealers and investment advisers must register branch offices and an adviser must register as a broker-dealer with investment advisor capacity.

"Security" is expanded to include interests in viatical settlement contracts.

Violations of Chapter 409, or threatened violations, can subject to defendant to a cease and desist order issued by the Commissioner and/or court action of a legal or equitable nature. Penalties imposed by a court or the Commissioner can be as high as $10,000 for a single violation or $100,000 for multiple violations.

An internet securities solicitation originating outside of Missouri does not constitute an offer for sale or purchase within the state if it is clear that it was not intended to be a direct solicitation.

Section 409.417 is added for the state to reject participation in the federal limits imposed by the Philanthropy Protection Act of 1995.
DENISE GARNIER