A meeting of the State Securities Board was held on October 28, 2021, 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; Emily Diaz, Assistant Director, Registration Division; Cheryn Netz, Assistant General Counsel; Brian Shepherd, Staff Attorney, General Counsel Division; and Sonia Fergerson, Executive Assistant. Also attending was Kim Lopez-Gonzales.
Chair Kinney called the meeting to order at 10:04 a.m.
Minutes of the August 26, 2021, meeting were approved.
Member Koncaba was absent from the meeting. The vote on whether to excuse Member Koncaba’s absence was tabled to be addressed at the next meeting.
The Audit Committee reported on the Agency’s Internal Audit Report for Fiscal Year 2021, prepared by Garza/Gonzalez & Associates, and the Board reviewed the report.
The Board voted to adopt the following proposed rules:
- Adding new §101.7, concerning references to the Texas Securities Act in Board Rules.
- Adding new §101.8, concerning employee leave pools.
- Amending subsections (a) and (h) of §115.18, concerning special provisions relating to military applicants, to implement House Bill 139, to add Space Force to the definition of “armed forces of the United States” and allow the spouse of an active military service member to submit a permanent change of station (PCS) order as proof of residency.
- Amending subsections (a) and (h) of §116.18, concerning special provisions relating to military applicants, to implement House Bill 139, to add Space Force to the definition of “armed forces of the United States” and allow the spouse of an active military service member to submit a permanent change of station (PCS) order as proof of residency.
The Commissioner provided an update on the conclusions of the Second and Third Special Sessions of the 87th Legislative Session and on bills that directly affected the Agency.
The Commissioner gave a report on the Agency’s budget and performance measures.
The Commissioner presented his plan to address ongoing attrition at the Agency.
The Commissioner gave a general update on Agency operations.
The Board then discussed possible times and dates for future Board Meetings and selected 10:00 a.m. on February 17, 2022; May 12, 2022; and September 22, 2022.
The meeting was then adjourned at 12:14 p.m.