Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Commission Recommends Moving Securities Regulation

http://ozarkspub.vo.llnwd.net/o37/KSMU/audio/mp3/commission_2144.mp3

A government panel has recommended the transfer of the state securities division out of the secretary of state's office. KSMU's Missy Shelton reports.

A government panel has recommended the transfer of the state securities division out of the secretary of state's office.

The Missouri Government Review Commission Thursday voted 11-to-7 to move securities regulation into a newly proposed Department of Financial Regulation and Professional Registration.

Secretary of State Robin Carnahan says she opposes the plan.

Governor Matt Blunt appointed the Government Review Commission and will receive all of the commission's recommendations.

Carnahan says she doesn't believe Blunt has the authority to move the securities division from her office.

Supporters of the proposed switch say it makes more sense to combine securities regulation with the oversight of banks and insurance companies.