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House passes bill seeking to boost investor confidence

A bill that was inspired by the Enron scandal of last year passed the House.

Nishi Gupta has the story.

Under the bill, individuals could be fined up to one million dollars for securities fraud. It would also empower state courts to demand profits from violators and force them to pay restitution to their victims. Secretary of State Matt Blunt says the bill keeps investor confidence in mind.

The bill has now been sent to the governor. If he approves it, Missouri would become the first state to have such legislation.

From Jefferson City, Nishi Gupta, KMOX News.