The Secretary of State, through the Securities Division, is responsible for protecting Missouri investors from fraud and for ensuring that firms and individuals that sell securities comply with the securities laws in the state. The division enforces the Missouri Uniform Securities Act, also known as the "Blue Sky Law." The division is organized into three sections: investor education, enforcement, and registration.
Call our toll-free investor hotline at 800-721-7996 to report complaints or make inquiries about broker-dealers, agents, investment advisers, investment adviser representatives, or general securities violations.
What is a Security?
Stocks and bonds, limited partnerships in real estate, oil and gas offerings, investment contracts, or an investment in a common enterprise with an expectation of profit to be derived from the significant managerial efforts of others are securities.
Almost any sort of profit-making venture that depends on the efforts of the seller to realize a profit could be a security and may need to be registered with the division, exempt from such registration, or a security that is a federal covered security.
Securities News
In The Spotlight
The Audit Unit has released its Third Quarter 2012 Audit Report. Click here to review.
The Commissioner of Securities has issued an Advisory Release alerting Missouri's investment advisers and others to a recent report on the Investment Adviser Registration "Switch." Read the release here, and the Report here.
The Commissioner of Securities has issued an Advisory Release concerning pending investment adviser registration applications after the Dodd-Frank Act "Switch" deadline. Read the release here.
The Audit Unit has released its Second Quarter 2012 Audit Report. Click here to review.
The Commissioner of Securities has issued an Advisory Release concerning a no-action letter and the April 26 rulemaking concerning Missouri Private Fund Advisers. Read the release here.
The Commissioner of Securities has issued an Advisory Release concerning a rulemaking related to an exemption from registration for certain advisers to private funds. Read the release here.
The Commissioner of Securities has issued an Advisory Release on the passage of the CROWDFUND Act of 2012 and potential issues for small businesses and entrepreneurs to consider. Read the release here.
The Audit Unit has released its First Quarter 2012 Audit Report. Click here to review.
The Commissioner of Securities has issued an advisory release on the fast-approaching deadlines and best registration practices for investment advisers switching to state registration. Read the release here.
*The Missouri Securities Division publishes a quarterly e-newsletter. You can view the First Quarter 2012 newsletter by clicking here.
*registration required
The Commissioner of Securities sent a letter to Missouri Investment Advisers who may switch to state regulation in 2012 under the Dodd-Frank Act. Read the letter here.
The Commissioner of Securities issued an advisory release summarizing NASAA’s coordinated review program for investment advisers switching to state regulation in 4-14 states. Read the release here.
The Commissioner of Securities has issued an Advisory Release concerning crowdfunding and state securities regulation. Read the Advisory Release here. Read a related letter from Secretary Carnahan to the U.S. Senate Committee on Banking, Housing, and Urban Affairs here 
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The Commissioner of Securities has issued an advisory release addressing the prohibition on general solicitation in connection with private offerings. Read the advisory release.
The Commissioner of Securities issued an advisory release summarizing a No-Action Determination issued in response to a request by an adviser to a private fund. Read the advisory release.
The Audit Unit has released its Second Quarter 2011 Audit Report. Click here to review.
The Commissioner of Securities has issued an advisory release concerning key dates and rules for the 2012 Investment Adviser Switch. Read the advisory release.
The Securities Division’s Audit Unit conducted a 6-month audit sweep of brokers and investment advisers to review policies and procedures related to senior investors. Read the report here.
The Audit Unit has released its Third Quarter 2010 Audit Report. Click here to review.
The Commissioner of Securities has issued an advisory release addressing examination requirements for issuer-agents. Read the advisory release.
The Audit Unit has released its Second Quarter 2010 Audit Report. Click here to review.
View Secretary Carnahan’s Investor Protection Center welcome video here.
The Audit Unit has released its First Quarter 2010 Audit Report. Click here to review.
Secretary Carnahan has sent a letter to the members of the Senate Banking Committee, urging them to pass meaningful financial reform. The letter may be viewed here.
The Commissioner of Securities has issued an advisory release addressing proper submission of formal documents to the Securities Division and the use of email. Read the advisory release.
The Securities Division’s investigations into auction rate securities matters remains a top priority. To learn more about these efforts, click here.
To read a Statement of Policy on no-action letters and interpretative opinions, click here.
The Commissioner of Securities has issued an advisory release concerning real estate transactions involving promissory notes. Read the advisory release here.
Check out the Missouri Investor Protection Center (MIPC).
Play our Investment Scam Game to see if you can avoid being a victim of securities fraud.
Capital is critical to the survival and growth of business, especially small business. Here are Nine Tips for Raising Capital in Missouri.
Check out our publications for investors that help investors protect themselves against fraudulent investment schemes, including our new comprehensive investment guide.
Access the Securities Division’s most recent advisory releases.
File a complaint with the Securities Division.