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Committee adopts securities‑sector cleanup bill requiring cybersecurity policies and licensing clarifications
Summary
The committee passed SB149, a securities department cleanup bill that requires companies to adopt written cybersecurity and compliance policies, authorizes a work‑from‑other‑than‑licensed‑location rule for loan officers, and adjusts licensing renewal timing and notification requirements for firms.
The Senate Insurance & Commerce Committee passed Senate Bill 149, which agency sponsors said mostly clarifies existing law for the securities industry and reduces regulatory friction for institutions and loan officers.
Senator Dismang, presenting the bill, highlighted three changes: a requirement that companies establish written cybersecurity and compliance policies;…
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