Aug 6
2020

Consent Order Entered Resolving Unregistered Activity

The State Securities Board and Solium Financial Services, LLC resolved the firm’s unregistered dealer activity over an extended period of time with the entry of a consent order . Solium agreed to comply with the provisions of Section 12.A of the Texas Securities Act .

This matter was...

Jul 9
2020

Houston May Have a Problem…

The Texas State Securities Board issued two emergency cease and desist orders against firms and individuals claiming to provide lucrative investment opportunities in international cryptocurrency trading platforms that trade bitcoin and mine cryptocurrency. The subjects of the orders purport to...

Jun 3
2020

Convicted Thief Wants You to Flee the Market, Invest in his Flea Market

Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against Paul Leslie Depew and How Bazzar, LLC, to stop their fraudulent sale of investments to fund a flea market in Dallas, Texas.

Depew, a DFW resident, is allegedly advertising the interests in...

May 27
2020

Conroe Adviser Sanctioned for Not Fully Disclosing Risks in Market-Linked CDs

Texas Securities Commissioner Travis J. Iles reprimanded Michael C. De Pippo of Conroe after finding that De Pippo violated his firm’s procedures by failing to fully inform clients about the risks of certificates of deposit whose returns depend on the performance of certain stocks or market...

May 15
2020

Order Seeks to Lower Curtain on Nick Steele & TheCryptoFacts

The alleged cryptocurrency trading scheme perpetrated by Nickolas Steele, aided by his CryptoFacts Facebook page, should be shut down as an immediate danger to Texas residents, according to an Emergency Cease and Desist Order entered May 15.

The State Securities Board order targets a...

May 14
2020

Dallas Adviser Lorintine Fined $10,000 for Charging Performance-Based Fees

Lorintine Capital LP, a Dallas investment adviser, was fined $10,000 for charging performance-based fees to clients whose net worth wasn’t high enough for them to be charged the fees.

Lorintine Capital was also reprimanded as part of a Disciplinary Orde r entered by Texas Securities...

May 1
2020

COVID-19 News and Updates

Texas State Securities Board news, investor alerts, and operational updates related to the pandemic are available on our COVID-19 News & Updates page.

COVID-19 News & Updates will be reguarly updated and includes:

News releases on enforcement actions and other measures being...
Apr 28
2020

State Regulators Form COVID-19 Investment Fraud Task Force

The national association for state securities regulators on April 28 announced the formation of the COVID-19 Enforcement Task Force to identify and stop potential threats to investors stemming from the COVID-19 pandemic.

The task force will work with the U.S. state and Canadian...

Apr 24
2020

Accept No Substitutes: There's Only One Texas State Securities Regulator

UPDATE: U.S. District Judge Lee Yeakel on May 7 granted the federal government’s application for a preliminary injunction in the case.

U.S. District Judge Lee Yeakel on April 23 issued a temporary restraining order to shut down the website of an entity that is allegedly pretending to be an...

Apr 17
2020

Order: 'Profit Off Coronavirus' Investment Pitch Is Toxic

Texas Securities Commissioner Travis J. Iles on April 17 entered an emergency action to stop a supposed foreign currency trader from soliciting Texas residents with the claim they can “profit off the coronavirus with forex.”

According to the Emergency Cease and Desist Order , Georgia...

Apr 16
2020

$20 Barrel Oil? West Texas Oilman Promises Profits Even Then

The sharp decline in oil prices has sent the worldwide energy market into a tailspin. But according to a Texas State Securities Board emergency action, West Texas oilman Kenneth Wayne Wooldridge is telling investors he can earn profits at almost any price.

According to an Emergency...

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