Authorizing restitution to victims of securities fraud

West Virginia's SB 14 creates a Securities Restitution Operating Fund to provide financial assistance to victims of securities fraud. The bill authorizes the state Auditor to transfer 3% of collected securities fees into this fund, which will be used to pay restitution directly to victims after violations are confirmed. Victims can apply for assistance through the Auditor's office, and the fund is exempt from attachment or interception. This program applies to individuals or entities in West Virginia who suffered financial harm due to securities violations, such as fraudulent investment schemes or mismanagement by brokers or advisers. The law also establishes procedures for determining restitution amounts and prohibits restitution in certain circumstances.