Ben Hueso
- Democratic
Author
The Corporate Securities Law of 1968 generally regulates the offer and sale of corporate securities within the state, and specifically makes specified conduct with regard to the offer and sale of corporate securities unlawful. That law requires the Commissioner of Business Oversight to perform specific oversight duties regarding the offer and sale of securities and provides that any willful violation of that law is a crime. Existing law prohibits any person from selling a security in this state by means of a communication that includes an untrue statement of material fact or that omits a material fact necessary in order to make the statements made, in light of the circumstances under which the statements are made, not misleading. This bill would require the commissioner to adopt regulations to prohibit fraudulent and manipulative practices by persons undertaking short sales in the securities market. By expanding the scope of a crime, this bill would impose a state-mandated local program. (2) The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
August 11 hearing. Held in committee and under submission.
August 3 set for first hearing. Placed on APPR. suspense file.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (June 27).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.
From committee: Be re-referred to Com. on B. & F. (Ayes 10. Noes 0.) (May 12). Re-referred to Com. on B. & F.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
Re-referred to Com. on RLS. pursuant to Assembly Rule 96.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on U. & C.
Referred to Coms. on U. & C. and NAT. RES.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 35. Noes 0. Page 774.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
Set for hearing April 20.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 0. Page 509.) (April 7). Re-referred to Com. on APPR.
Set for hearing April 7.
From printer. May be acted upon on or after April 1.
Read first time.
Introduced. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB726 | HTML |
| 02/27/15 - Introduced | |
| 09/03/15 - Amended Assembly | |
| 03/31/16 - Amended Assembly | |
| 06/08/16 - Amended Assembly | |
| 06/30/16 - Amended Assembly |
| Document | Format |
|---|---|
| No related documents. |
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