MS SB2423

Extends the lookback period for willful violations of the Mississippi Securities Act from 10 years to 15 years for purposes of discipline.

Clarifies that ongoing failure to supervise counts as a separate violation for each 12-month period and for each individual supervised during that period.

Restricts the ability to base discipline on orders from other states to only those orders based on conduct that would authorize discipline under Mississippi law.

Limits private civil actions under the predecessor securities act to the earlier of the original statute of limitations or five years after January 1, 2010, while preserving unlimited timeframes for administrator enforcement actions.

Takes effect July 1, 2017.