2016-03-24                     House Journal                      Page 1926
HB 194                                                                                                                        
The Labor & Commerce Committee considered:                                                                                      
                                                                                                                                
     HOUSE BILL NO. 194                                                                                                         
     "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 recommends it be replaced with:                                                                                             
                                                                                                                                
     CS FOR HOUSE BILL NO. 194(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, federal covered investment advisers, viatical                                                          
     settlement interests, small intrastate security offerings, Canadian                                                        
     broker-dealers, and Canadian agents; relating to administrative,                                                           

2016-03-24                     House Journal                      Page 1927
     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."                                                             
                                                                                                                                
The report was signed by Representative Olson, Chair, with the                                                                  
following individual recommendations:                                                                                           
                                                                                                                                
Do pass (1):  Olson                                                                                                             
                                                                                                                                
No recommendation (5):  Tilton, Hughes, Kito, Josephson, LeDoux                                                                 
                                                                                                                                
Amend (1):  Colver                                                                                                              
                                                                                                                                
The following fiscal note(s) apply to CSHB 194(L&C):                                                                            
                                                                                                                                
2. Zero, Dept. of Administration                                                                                                
3. Indeterminate, Dept. of Commerce, Community, & Economic                                                                      
 Development                                                                                                                    
                                                                                                                                
HB 194 was referred to the Judiciary Committee.