What happens if access to the records is denied?
Refusal to cooperate with regulators in the securities industry can have dramatic consequences. The commissioner may revoke, suspend, censure, or bar the registration of a person who refuses to allow or otherwise impedes the commissioner from conducting an audit. In addition, the commissioner may impose a civil penalty on a registrant in an amount not to exceed $5,000 for a single violation or fifty thousand dollars for several violations. See ยง409.4-412(b), (c), and (d) of the Missouri Securities Act of 2003.
