HCS HB 1617 -- OBSTRUCTION OF SECURITIES INVESTIGATION

SPONSOR:  Byrd (Hanaway)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Judiciary
by a vote of 16 to 0 with 1 present.

This substitute creates the crime of obstruction of a securities
administrative proceeding or investigation.  The crime is
punishable by a fine of up to $500,000, imprisonment for up to 10
years, or both.  The crime is committed when a person alters,
destroys, conceals, or withholds any record requested by the
Commissioner of Securities in the Office of the Secretary of
State with the intent of obstructing, evading, or influencing:

(1)  An investigation of a suspected securities violation; or

(2)  The administration of any other proceeding involving the
regulation of securities.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of Less than
$100,000 in FY 2005, FY 2006, and FY 2007.  No impact on Other
State Funds in FY 2005, FY 2006, and FY 2007.

PROPONENTS:  Supporters say that the bill sends a clear message
that destroying documents which are the subject of an
investigation is a very serious offense and will be dealt with
accordingly.

Testifying for the bill were Representative Hanaway; and Office
of Secretary of State.

OPPONENTS:  There was no opposition voiced to the committee.

Julie Jinkens McNitt, Legislative Analyst

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am