☰ Revisor of Missouri


Chapter 409

< > Effective - 01 Sep 2003, see footnote    bottom

  409.6-601.  Administration. — (a)  This act shall be administered by the commissioner of securities who shall be appointed by and act under the direction of the secretary of state, and shall receive compensation as provided by law.

  (b)  The attorney general shall appear on behalf of and represent the commissioner in all proceedings before the administrative hearing commission, and in the circuit court of any county of the state or any city not within a county, or any court of another state in all civil enforcement actions brought under this act.  The attorney general may appoint attorneys employed by the secretary of state as special assistant attorneys general to appear on behalf of and represent the commissioner.

  (c)  It is unlawful for the secretary of state, commissioner or an officer, employee, or designee of the commissioner to use for personal benefit or the benefit of others records or other information obtained by or filed with the commissioner that are not public under section 409.6-607(b).  This act does not authorize the secretary of state, commissioner or an officer, employee, or designee of the commissioner to disclose the record or information, except in accordance with section 409.6-602, 409.6-607(c), or 409.6-608.

  (d)  This act does not create or diminish a privilege or exemption that exists at common law, by statute or rule, or otherwise.

  (e)  The commissioner may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on the prevention and detection of securities fraud.  In developing and implementing these initiatives, the commissioner may collaborate with public and nonprofit organizations with an interest in investor education.  The commissioner may accept a grant or donation from a person that is not affiliated with the securities industry or from a nonprofit organization, regardless of whether the organization is affiliated with the securities industry, to develop and implement investor education initiatives.  This subsection does not authorize the commissioner to require participation or monetary contributions of a registrant in an investor education program.

  (f)  The "Investor Education and Protection Fund" is created to provide funds for the purposes identified in subsection (e).  Notwithstanding the provisions of section 33.080, any funds remaining in the secretary of state's investor education and protection fund at the end of any biennium shall not be transferred to the general revenue fund.


(L. 2003 H.B. 380)

Effective 9-01-03

---- end of effective  01 Sep 2003 ----

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