07 - 11 - 2012 Fleck sponsors bill merging banking & securities.
HARRISBURG – A bill sponsored by state Rep. Mike Fleck that makes state government more efficient by merging the Department of Banking and the Pennsylvania Securities Commission was signed into law last week by Gov. Tom Corbett. The combined agency, to be created by Act 86 of 2012, will be known as the Department of Banking and Securities and it will be led by the secretary of Banking.  The functions of the Securities Commission will be transferred to the Department of Banking with the securities division to be overseen by a deputy secretary. Fleck said “Commission officials expect this merger to immediately save taxpayers more than a million dollars in administrative costs alone.”