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Blunt supports bill that would protect small investors

February 5, 2003
By: Elizabeth Gill
State Capital Bureau

Secretary of State Matt Blunt is backing a bill designed to protect small investors from fraud.

Elizabeth Gill has more in Jefferson City:


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The bill, sponsored by republicans in the house and senate, calls for fradulent investors to surrender their profits and pay back their victims.

The bill would also require those investors to contribute to the Investor Education and Protection Fund.

Blunt says the bill also has the potential shield honest businesses from the negative light of investment scams:

Story: "perhaps the most important thing it does is by making this an environment where its difficult for people to prey on our citizens it helps enhance the legitimacy and credibility of legitimate enterprise."
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The bill would increase criminal fines for securities fraud to one million dollars.

From the state capital, I'm Elizabeth Gill, KMOX news.

Secretary of State Matt Blunt is supporting a bill that cracks down on securities fraud.

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The bill, sponsored by republican Senator Matt Bartle and Representative Richard Byrd, would give the state more power to punish people who commit investment fraud.

Byrd says the bill would help minimize the dangers small investors face in the marketplace:

Actuality: byrdebg: "a good investment occurs when you know what the risks are that you are taking. We need to make sure our residents, particularly our most vulnerable know exactly what those risks are."
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The bill would require fraudulent investors to pay back their victims.

It would also require those investors to contribute to a fund that protects and educates investors.

From the state captial, I'm Elizabeth Gill, KMOX news.