Bills › 91st General Assembly
Relating to respondents in a proceeding to expunge information in a record in the investment adviser registration depository
Sponsored by the Senate Commerce Committee
Proposed by the Department of Insurance and Financial Services · all agency proposals
Topics:Business & economyInsurance
Where it is now
- Done: IntroducedJanuary 21, 2026
- Done: SubcommitteeJanuary 21, 2026
- Done: Senate committeeJanuary 28, 2026
- Done: Passes the SenateMarch 10, 202646–0
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2026 session adjourned on May 3, 2026, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary If someone wants to remove information from a specific investment adviser database, the insurance commissioner must now be included in the legal process. The investment adviser who reported the information can also be named as a participant in that proceeding.1
Read the official explanation
This bill relates to respondents in a proceeding to expunge information in a record in the investment adviser registration depository. Under current law, the commissioner of insurance, or the investment adviser that reported the information in the record in the investment adviser registration depository, may be named as a respondent or as respondents in a proceeding to expunge the information. Under the bill, the commissioner shall be named as a respondent and the investment adviser may be named as a respondent in such a proceeding.
Why it matters. People seeking to remove information from the investment adviser registration depository would change how they name parties in their legal proceedings. The commissioner of insurance must be named as a respondent, while investment advisers may also be named as respondents.2
Senate subcommittee
Named January 21, 2026 (as SSB 3056). On January 27, 2026 it recommended passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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91st General Assembly