STAND. COM. REP. NO. 2705

Honolulu, Hawaii

RE:    S.B. No. 2345

       S.D. 1

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 2345, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE INVESTOR EDUCATION PROGRAM,"

begs leave to report as follows:

     The purpose and intent of this measure is to support and protect the State's elder population by providing funding for the Department of Commerce and Consumer Affairs' investor and related financial education programs targeted to Hawaii's kupuna.

     Your Committee received written comments in support of this measure from the Department of Commerce and Consumer Affairs.

     Your Committee finds that there is an ongoing and growing need to educate, protect, and inform Hawaii's kupuna on how to make wise choices when investing and how to detect financial fraud.  Your Committee further finds that the investor education program within the Department of Commerce and Consumer Affairs' Office of the Securities Commissioner provides valuable information to Hawaii's kupuna to protect and empower them against financial fraud and scams.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2345, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

DAVID Y. IGE, Chair