STAND. COM. REP. NO. 1724

Honolulu, Hawaii

, 2019

RE: H.C.R. No. 158

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Labor & Public Employment, to which was referred H.C.R. No. 158 entitled:

"HOUSE CONCURRENT RESOLUTION URGING THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS AND THE COMMISSIONER OF SECURITIES TO BE NOTIFIED OF AND AUTHORIZED TO ATTEND ANY MEETING AT WHICH PUBLIC EMPLOYEES ARE SUBJECT TO A BROKER-DEALER OFFERING BROKERAGE SERVICES TO THOSE PUBLIC EMPLOYEES,"

begs leave to report as follows:

The purpose of this measure is to urge:

(1) The Department of Commerce and Consumer Affairs (DCCA) to require that the Commissioner of Securities be notified of and authorized to attend any public employer-approved meeting at which public employees are subject to a broker-dealer offering brokerage services to those public employees; and

(2) Entities conducting such a meeting to notify DCCA of the date, time, and location of the meeting.

DCCA testified in support of this measure.

As affirmed by the record of votes of the members of your Committee on Labor & Public Employment that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 158 and recommends that it be referred to your Committee on Consumer Protection & Commerce.

Respectfully submitted on behalf of the members of the Committee on Labor & Public Employment,

____________________________

AARON LING JOHANSON, Chair