HB 2908 Missouri House · 2026 Regular Session

Modifies provisions within the Missouri Securities Act of 2003

HB 2908 modifies Missouri's Securities Act by adjusting registration fees for securities professionals. It reduces fees for agent applications, renewals, and changes from $50 to $45, while lowering investment adviser representative fees to $45 and setting $200/$100 initial/renewal fees for advisers. The bill establishes limits on future fee increases (max $25 over 8 years) and creates two funds: an Investor Education Fund to combat fraud and a Securities Division Fund to cover operational costs. These changes directly affect broker-dealers, investment advisers, and their representatives who must register in Missouri.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 12, 2026 Last action Apr 9, 2026

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What changed between versions

Introduced → House Committee Substitute · 4 edits

MODERATE

This bill was amended to combine HB 2908 with HB 2990, adding a repeal of section 409.6-604 and creating a new fee schedule. The most significant change is the removal of bracketed text that previously set specific dollar amounts for agent and investment adviser fees, allowing the Commissioner to set these fees via rule. Additionally, the rules for future fee increases were updated to include a sunset date of December 31, 2045, and a new requirement for legislative review of fee adjustments after June 30, 2030.

Scope change

The bill's scope expanded to include HB 2990 and now repeals an additional section of the Missouri Securities Act (409.6-604).

REQUIREMENT

Removed specific dollar amounts for agent and investment adviser registration fees, replacing them with a requirement for the Commissioner to set these fees via rule.

TIMELINE

Added a sunset provision stating that no fee increases can be made after December 31, 2045.

ENFORCEMENT

Updated the process for fee adjustments to require a legislative review and potential rejection of rules proposed after June 30, 2030.

SCOPE

Expanded the bill to repeal section 409.6-604 and combine HB 2908 with HB 2990.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 9, 2026

Lower · Passed

Reported Do Pass (H) - AYES: 10 NOES: 0 PRESENT: 0

lower

Apr 9, 2026

Lower · Passed

Voted Do Pass (H)

lower

Apr 1, 2026

Committee

Referred: Rules - Administrative(H)

lower

Mar 31, 2026

Lower · Passed

HCS Reported Do Pass (H) - AYES: 13 NOES: 1 PRESENT: 0

lower

Mar 30, 2026

Lower · Passed

HCS Voted Do Pass (H)

lower

Feb 26, 2026

Committee

Referred: Special Committee on Intergovernmental Affairs(H)

lower

Jan 12, 2026

Introduced

Introduced and Read First Time (H)

lower

1 primary · 0 co-sponsors