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SF

Bill

HB 137

Revise securities laws relating to fees paid by certain licensees

2025 Regular Session Introduced by Steve Fitzpatrick

Montana law signed by governor adjusts securities licensing fees for certain financial professionals, impacting state regulatory revenue and business operating costs.

Chapter Number Assigned
#revenue #state #securitiesandsecuritiesregulation
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Bill Summary · HB 137

Legislative bill overview

HB 137 modifies Montana's securities laws to adjust fees paid by certain licensed securities professionals and firms. The bill has passed both chambers and been signed by the governor, making it law as of May 2025. Specific fee changes and which licensees are affected depend on the bill's detailed provisions.

Why is this important

Securities licensing fees directly impact operating costs for investment firms, brokers, and financial advisors operating in Montana. Fee adjustments can affect market competitiveness, business formation in the state, and regulatory funding levels for the Montana Securities and Exchange Commission.

Potential points of contention

  • Regulatory funding impact: Lower fees reduce state revenue for securities oversight; higher fees increase compliance costs for businesses
  • Competitive fairness: Different fee structures for different licensee types may create unequal competitive conditions in Montana's financial services market
  • Effectiveness of oversight: Fee changes could affect the adequacy of regulatory resources available for investor protection and fraud prevention

Compiled from official sources — confirm details with the bill’s official record.

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