MS SB2603

Creates the Securities Investor Education Fund in the State Treasury to receive late filing fee penalties on federal covered securities notice filings under Section 75-71-310(b).

Requires 50% of the fund balance to lapse into the State General Fund at the end of each fiscal year, with the remaining 50% retained in the special fund; administrator may deposit any amount into the General Fund at any time.

Authorizes the administrator to use fund monies to implement investor education initiatives focusing on securities investing, fraud prevention and detection, and personal finance.

Permits the administrator to coordinate investor education initiatives with the State Department of Education and other government agencies, nonprofit organizations, or for-profit organizations.

Takes effect July 1, 2025.