Commission recommends moving securities regulation
By Kevin Lavery, KWMU
St. Louis, MO. – A commission tasked by Missouri Governor Matt Blunt to investigate ways of streamlining state government is recommending that securities regulation be moved out of the Secretary of State's office.
The Missouri State Government Review Commission voted to transfer the Securities Division into a newly proposed department.
Supporters say it's appropriate to combine that function with the oversight of banks and insurance companies. Governor Blunt says he'll review that and other commission decisions.
I appointed the commission and then told them that not much was off the table and wanted them to be very honest and forthright about what they thought would be in the best interest of Missouri taxpayers, Blunt said.
In a written statement, Secretary of State Robin Carnahan says moving securities regulation out of her office jeopardizes the protection of investors.