409.6-608. Uniformity and cooperation with other agencies. - Missouri Statutes

Uniformity and cooperation with other agencies.

409.6-608. (a) The commissioner shall, in the discretion of thecommissioner, cooperate, coordinate, consult, and, subject to section409.6-607, share records and information with the securities regulator ofanother state, Canada, a Canadian province or territory, a foreignjurisdiction, the Securities and Exchange Commission, the United StatesDepartment of Justice, the Commodity Futures Trading Commission, theFederal Trade Commission, the Securities Investor Protection Corporation,the attorney general, a self-regulatory organization, a national orinternational organization of securities regulators, a federal or statebanking and insurance regulator, and a governmental law enforcement agencyto effectuate greater uniformity in securities matters among the federalgovernment, self-regulatory organizations, states, and foreign governments.

(b) In cooperating, coordinating, consulting, and sharing records andinformation under this section and in acting by rule, order, or waiverunder this act, the commissioner shall, in the discretion of thecommissioner, take into consideration in carrying out the public interestthe following general policies:

(1) Maximizing effectiveness of regulation for the protection ofinvestors;

(2) Maximizing uniformity in federal and state regulatory standards;and

(3) Minimizing burdens on the business of capital formation, withoutadversely affecting essentials of investor protection.

(c) The cooperation, coordination, consultation, and sharing ofrecords and information authorized by this section includes:

(1) Establishing or employing one or more designees as a centraldepository for registration and notice filings under this act and forrecords required or allowed to be maintained under this act;

(2) Developing and maintaining uniform forms;

(3) Conducting a joint examination or investigation;

(4) Holding a joint administrative hearing;

(5) Instituting and prosecuting a joint civil or administrativeproceeding;

(6) Sharing and exchanging personnel;

(7) Coordinating registrations under sections 409.3-301 and 409.4-401to 409.4-404 and exemptions under section 409.2-203;

(8) Sharing and exchanging records, subject to section 409.6-607;

(9) Formulating rules, statements of policy, guidelines, forms, andinterpretative opinions and releases;

(10) Formulating common systems and procedures;

(11) Notifying the public of proposed rules, forms, statements ofpolicy, and guidelines;

(12) Attending conferences and other meetings among securitiesregulators, which may include representatives of governmental and privatesector organizations involved in capital formation, deemed necessary orappropriate to promote or achieve uniformity; and

(13) Developing and maintaining a uniform exemption from registrationfor small issuers, and taking other steps to reduce the burden of raisinginvestment capital by small businesses.

(L. 2003 H.B. 380)

Effective 9-01-03