SECURITIES - INSURANCE

Amends the Illinois Securities Law of 1953. Provides that upon registration of an investment adviser representative, the applicant shall file evidence setting forth that such investment adviser representative has in effect fidelity insurance and insurance or other equivalent protection for each client's cash or securities held by the investment adviser representative, and an undertaking that the investment adviser representative will continually maintain such fidelity insurance and insurance or other protection during the period of registration or re-registration. Provides that such fidelity insurance and insurance or other protection shall be in a form and amount reasonably prescribed by the Secretary of State by rule or regulation.