For more information contact: Christina Gosack 651-296-5524
If you own stocks, bonds or mutual funds, a bill sponsored by state Rep. Joe Atkins of Inver Grove Heights applies to you. Rep. Atkins' bill, known as the Uniform Securities Act, provides additional protections for consumers and heightened requirements for investment brokers and dealers.
"More Minnesotans than ever before own stocks or bonds," said Atkins. "My bill would help keep Minnesotans safe from investor fraud and make sure that the people who help you make investments are properly registered with the state."
Rep. Atkins bill passed the House Commerce Committee unanimously with bi-partisan support and now goes to the floor for a full vote of the House. A companion bill is moving through Senate committees.
The Uniform Securities Act has been enacted or is under consideration in states across the country. It would make state regulation of stocks, bonds and mutual funds more effective and maximize cooperation among the states and with federal regulators.