The State Securities Board is the state agency charged with the administration and enforcement of the Texas Securities Act. The mission of the Agency is to protect investors and, consistent with that purpose, encourage capital formation and free and competitive securities markets. The Agency investigates suspected violations of the Act and ensures that administrative, civil, or criminal enforcement actions are taken in appropriate circumstances. The Agency also registers securities sold in Texas and the firms and individuals who sell securities or render investment advice in the state.
The State Securities Board is committed to providing outstanding service to its customers as part of its responsibility to protect the health and integrity of the capital markets in Texas. The Agency approaches all its activities with a deep sense of purpose and responsibility and strives to always act in accordance with the highest standards of fiscal responsibility, ethics, accountability, efficiency and openness. Guided by these principles, the staff of the Agency will work to cooperatively, efficiently, and effectively take appropriate action on all applications, complaints, and information submitted to the Agency and will promptly and courteously respond to all requests for information and assistance by its customers.
The customer service standards of the Agency are:
- Respond to requests for written information within ten business days of the request.
- Advise each applicant seeking to register a securities offering of any deficiencies in the application within seven days of the filing.
- Review each completed application to register a securities offering and make a recommendation to either grant, deny, or allow withdrawal of the application within 21 days of receipt of the completed application.
- Advise each applicant seeking to register as a dealer, investment adviser, agent, or investment adviser representative of any deficiencies in the application within 14 days of the filing.
- Review each completed application to register as a dealer, investment adviser, agent, or investment adviser representative and make a recommendation to either grant, deny, or allow withdrawal of the application within 14 days of receipt of the completed application.
The requirements and procedures for registration are described in the Act and Board Rules. These are available on this website or by contacting the Director of the Registration Division at (512) 305-8300.
Information indicating that any firm or individual may have sold unregistered securities, sold securities or rendered investment advice without being registered with the Agency, or engaged in any fraudulent practice in the offer or sale of securities, should be directed in writing to the Director of the Enforcement Division, P.O. Box 13167, Austin, Texas, 78711, or by email or by calling (512) 305-8392. The staff will promptly acknowledge receipt of the complaint and the matter will be reviewed to determine the appropriate action to be taken by the Agency.
Information indicating any improper or illegal conduct by a registered firm or individual should be submitted in writing to the Director of the Inspections and Compliance Division, P.O. Box 13167, Austin, Texas, 78711 or by email. The staff will promptly acknowledge receipt of the complaint and the matter will be reviewed to determine the appropriate action to be taken by the Agency.
Complaints regarding the Agency or its employees may be directed to the Customer Relations Representative, the Deputy Commissioner, P.O. Box 13167, Austin, Texas 78711, (512) 305-8302. Confirmation of receipt of a complaint will be sent to the person and the matter will be promptly reviewed to determine whether any action is necessary to address issues set forth in the complaint.