Bill > HB2990

This bill modifies fees for broker-dealers and related professionals within the Securities Division of the Secretary of State's (SoS) office, and establishes two new funds to support its operations. Specifically, it adjusts the initial and renewal registration fees for broker-dealers, investment advisers, and their representatives, generally lowering the individual agent and investment adviser representative fees from fifty to forty-five dollars while maintaining higher fees for broker-dealers and investment advisers. The bill also grants the commissioner the authority to adjust these fees by rule to cover administrative expenses, with limitations on the frequency and amount of increases, and mandates a comprehensive financial review every four years to ensure fee revenue aligns with operational needs, allowing for fee reductions if a surplus exists. Furthermore, it creates the "Securities Division Fund" to finance the division's operations, including costs associated with audits and inspections, and any revenue generated from fee increases. A new "Restitution Recovery Fund" is also established to provide financial assistance to investors who were awarded restitution but did not receive full payment, with specific limits on the assistance amount and fund balance management.

Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB2990&year=2026&code=R