2016-03-04                     Senate Journal                      Page 2027
SB 108                                                                                                                        
The Labor and Commerce Committee considered SENATE BILL                                                                         
NO. 108 "An Act repealing and reenacting the Alaska Securities Act,                                                             
including provisions relating to exempt securities and transactions;                                                            
relating to registration of securities, firms, and agents that offer or sell                                                    
securities and investment advice; relating to administrative, civil, and                                                        
criminal enforcement provisions, including restitution and civil                                                                
penalties for violations; allowing certain civil penalties to be used for                                                       
an investor training fund; establishing increased civil penalties for                                                           
harming older Alaskans; retaining provisions concerning corporations                                                            
organized under the Alaska Native Claims Settlement Act; amending                                                               
Rules 4, 5, 54, 65, and 90, Alaska Rules of Civil Procedure; and                                                                
providing for an effective date" and recommended it be replaced with                                                            
                                                                                                                                
          CS FOR SENATE BILL NO. 108(L&C) "An Act                                                                               
          relating to securities, registration, exempt securities,                                                              
          exempt transactions, broker-dealers, agents,                                                                          
          investment advice, investment advisers, investment                                                                    
          adviser representatives, federal covered securities,                                                                  

2016-03-04                     Senate Journal                      Page 2028
          federal covered investment advisers, viatical                                                                         
          settlement interests, Canadian broker-dealers, and                                                                    
          Canadian agents; relating to administrative, civil, and                                                               
          criminal enforcement provisions, including restitution                                                                
          and civil penalties for violations; relating to an                                                                    
          investor training fund; establishing increased civil                                                                  
          penalties for harming older persons; relating to                                                                      
          corporations organized under the Alaska Native                                                                        
          Claims Settlement Act; amending Rules 4, 5, 54, 65,                                                                   
          and 90, Alaska Rules of Civil Procedure, and Rule                                                                     
          602, Alaska Rules of Appellate Procedure; and                                                                         
          providing for an effective date."                                                                                     
                                                                                                                                
Signing do pass: Senator Costello, Chair; Senator Giessel. Signing no                                                           
recommendation: Senator Meyer.                                                                                                  
                                                                                                                                
The following fiscal information was published today:                                                                           
     Fiscal Note No. 2, zero, Department of Administration                                                                      
     Fiscal Note No. 3, indeterminate, Department of Commerce,                                                                  
      Community and Economic Development                                                                                        
                                                                                                                                
The bill was referred to the Judiciary Committee.