The State Securities Board is responsible for administering and enforcing the Texas Securities Act. The agency is overseen by five Board members appointed by the Governor, with the advice and consent of the Senate, for six-year overlapping terms. The Board adopts and periodically updates rules to ensure that investors are adequately protected and that unreasonable burdens on legitimate capital-raising activities are avoided.

The Board appoints a Securities Commissioner who serves at its pleasure and serves as the agency's chief administrative officer and supervises the day-to-day activities of the staff.  Travis J. Iles is the Securities Commissioner.

Updated: Sunset Act Review 

The mission and performance of the State Securities Board are under review by the Legislature as required under the Texas Sunset Act. Please consult the full Sunset Review notice for more information on the Sunset process. The following reports are available:

Sunset Advisory Commission Staff Report with Commission Decisions

Sunset Commission Staff Report

State Securities Board Self-Evaluation Report and Supplemental Self-Evaluation Report

Agency Mission

Pursuant to the requirements of The Securities Act, Tex. Rev. Civ. Stat. Ann. Arts. 581-1 to 581-44, the mission of the State Securities Board is to protect investors. Consistent with that mission, the agency seeks to encourage capital formation, job formation, free and competitive securities markets and minimize burdens on issuers and persons subject to the Act, especially small businesses.


In addition to its main office located in Austin, the agency has branch offices in Corpus Christi, Dallas, Houston, and Lubbock. Find more information, including how to contact our staff, on our Offices page.

Read more about the Securities Board and the Agency's functions on our Agency Overview page.