SB 506 Grants the Commissioner greater latitude in sanctioning those in violation of Missouri securities law
Sponsor: Smith Co-Sponsor(s)
LR Number: 1564S.01I Fiscal Note:
Committee: Financial & Governmental Organizations and Elections
Last Action: 2/15/2007 - Second Read and Referred S Financial & Governmental Organizations and Elections Committee Journal Page: S272
Title: Calendar Position:
Effective Date: August 28, 2007

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Current Bill Summary

SB 506 - The act corrects punctuation, restructures some sectional divisions and makes various structural changes to the Missouri Securities Act.

The act allows the Commissioner of Securities to issue orders that include civil penalties when individuals violate Missouri securities law.

Currently, residential telephone numbers are not available for public examination for the purposes of Missouri securities law. The act provides that residential telephone numbers used as business numbers are public.

Currently, the Commissioner may censure individuals for a variety of reasons if the individual has also engaged in dishonest or unethical practices. This act allows censure for any of the enumerated reasons regardless of whether the act was dishonest or unethical.