A meeting of the State Securities Board was held on May 12, 2022, in Room 320, Thomas Jefferson Rusk State Office Building, at 10:00 a.m. Those present were: E. Wally Kinney, Chair; Robert Belt, Member; Melissa Tyroch, Member; Ejike E. Opka II, Member; Travis J. Iles, Securities Commissioner; Clinton Edgar, Deputy Commissioner; Tommy Green, Director, Inspections and Compliance Division; Derek Lauterjung, Director, Staff Services Division; Joseph J. Rotunda, Director, Enforcement Division; Marlene K. Sparkman, General Counsel; Betsy Hodges, Assistant Director, Inspections and Compliance Division; Cheryn Netz, Assistant General Counsel; Shaun Yarroll, Assistant Director, Registration Division; Brian Shepherd, Staff Attorney, General Counsel Division; and Sonia Fergerson, Executive Assistant. Also attending was Janie Scout Belt.
Chair Kinney called the meeting to order at 10:01 a.m.
Minutes of the February 17, 2022, meeting were approved.
The Board voted to excuse Member Koncaba’s absence from the meeting.
After discussion and a recommendation of the Audit Committee, the Board voted to approve the internal audit plan for fiscal year 2022 prepared by Garza/Gonzalez & Associates.
The Board voted to publish for public comment the following new rule proposals:
- New §101.9, concerning vendor protest procedures.
- New forms updated to add citations to the codified Texas Securities Act and make other nonsubstantive changes:
- Form 133.5. Secondary Trading Exemption Notice.
- Form 133.6. Secondary Trading Exemption Renewal Notice.
- Form 133.7. Securities Application.
- Form 133.12. Renewal Application for Mutual Funds and Other Continuous Offerings.
- Form 133.13. Application for Renewal Permit.
- Form 133.16. Texas Crowdfunding Portal Withdrawal of Registration.
- Form 133.18. Certification of Balance Sheet by Principal Financial Officer.
- Form 133.26. Request for Determination of Money Market Fund Status for Federal Covered Securities.
- Form 133.27. Year-End Report of Sales of Federal Covered Securities by a Money Market Fund.
- Form 133.29. Intrastate Exemption Notice.
- Form 133.30. Information Concerning Projected Market Prices and Related Market Information.
- Form 133.34. Undertaking Regarding Non-Issuer Sales.
- Form 133.36. Request for Reduced Fees for Certain Persons Registered in Multiple Capacities.
- Repeal current forms that are being replaced:
- Form 133.5. Secondary Trading Exemption Notice.
- Form 133.6. Secondary Trading Exemption Renewal Notice.
- Form 133.7. Application for Registration of Securities.
- Form 133.12. Renewal Application for Mutual Funds and Other Continuous Offerings.
- Form 133.13. Application for Renewal Permit.
- Form 133.16. Texas Crowdfunding Portal Withdrawal of Registration.
- Form 133.18. Certification of Balance Sheet by Principal Financial Officer.
- Form 133.26. Request for Determination of Money Market Fund Status for Federal Covered Securities.
- Form 133.27. Year-End Report of Sales of Federal Covered Securities by a Money Market Fund (Pursuant to §123.3).
- Form 133.29. Intrastate Exemption Notice.
- Form 133.30. Information Concerning Projected Market Prices and Related Market Information.
- Form 133.34. Undertaking Regarding Non-issuer Sales.
- Form 133.36. Request for Reduced Fees for Certain Persons Registered in Multiple Capacities.
The Commissioner gave a report on the Agency’s budget and performance measures.
The Commissioner gave a general update on Agency operations.
The meeting was then adjourned at 11:53 a.m.