MO HB2908

Reduces registration fees for agents and investment adviser representatives from $50 to $45 for applications, renewals, and changes of registration

Grants the commissioner authority to adjust fees by rule to cover administrative costs, limited to one increase per four-year period with a maximum total increase of $25 over any eight-year period

Requires the commissioner to conduct comprehensive financial reviews every four years beginning in fiscal year 2030, with findings published within 90 days and mandatory fee decreases if surplus funds exist

Creates the "Securities Division Fund" to receive audit/inspection reimbursements and revenue from fee increases, with funds restricted to securities division operations

Establishes a "Restitution Recovery Fund" to assist investors awarded restitution who did not receive full payment, capped at the lesser of $25,000 or 25% of unpaid restitution per claim