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HI HR85
Resolution
Status
3/5/2020
Primary Sponsor
Dale Kobayashi
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AI Summary
H.R. 85 Summary
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Urges the Department of Commerce and Consumer Affairs to require the Commissioner of Securities receive notification of and attend any public employer-approved meeting where broker-dealers offer brokerage services to public employees.
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Requires any entity conducting such meetings to notify the Department of Commerce and Consumer Affairs with the date, time, and location of the meeting.
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Addresses concerns that broker-dealer commission-based compensation incentivizes riskier investments and that current regulations only penalize fraud or deceit rather than preventing inappropriate sales pressure on public employees.
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Directs certified copies of the resolution be transmitted to the Governor, Department of Commerce and Consumer Affairs Director, Commissioner of Securities, Director of Human Resources Development, and various employee retirement and union organizations.
Legislative Description
Urging The Department Of Commerce And Consumer Affairs And The Commissioner Of Securities To Be Notified Of And Authorized To Attend Any Meeting At Which Public Employees Are Subject To A Broker-dealer Offering Brokerage Services To Those Public Employees.
DCCA
Last Action
This measure has been deleted from the meeting scheduled on Tuesday 03-17-20 2:00PM in conference room 329.
3/16/2020