News Releases

The following are summaries of administrative actions and orders taken from April 1 through June 30, 2017.

Securities Commissioner John Morgan entered a Disciplinary Order on June 21 that fined and reprimanded Trevor M. Carney , a securities agent in...

Securities Commissioner John Morgan entered a Disciplinary Order June 2 that fined and reprimanded a Chicago-based securities dealer whose compliance officer repeatedly wired funds to individuals pretending to be a 75-year-old Texas client of the firm.

In three separate transactions in...

Dback Capital Inc . of Dallas and its president, Kenneth Edward Shelton , agreed to stop violating the law by selling stock in two companies to Texas residents.

Texas Securities Commissioner John Morgan entered the Agreed and Cease Desist Order on May 22.

Neither Dback Capital...

One-time entertainment promoter David Elliott Rosen of Austin was sentenced to 10 years to prison on May 4 for for a nearly $2 million fraud based on the sale of investments in his concert-promotion business.

Rosen pleaded guilty to securities fraud in Travis County State District Court...

The following are summaries of administrative actions and orders taken from Jan. 1 through March 31, 2017.

Texas Securities Commissioner John Morgan suspended the investment adviser representative registration of Robert Yrshus of Houston for 60 days and...

Military Saves Week is Feb. 27 through March 4, and the Texas State Securities Board continues to offer a resource-packed financial guide to help members of our military make confident, informed financial decisions.

A Salute to Smart Investing provides active military members with the...

Most New Year's lists of the financial variety are inflicted on the public for no apparent reason. No one consistently predicts the direction of the stock market or can tell you the 10 Best Mutual Funds to buy or which mattresses will best conceal your cash.

The Texas State Securities...

The following are summaries of administrative actions and orders taken from Oct. 1 through Dec. 30, 2016.

Texas Securities Commissioner John Morgan entered a Disciplinary Order Dec. 30 that levied a $5,000 fine and reprimanded Bruce Russell Clark of...

The following are public documents in the State of Texas criminal case against Bobby Eugene Guess and the Texas State Securities Board's proceedings against Texas First Financial LLC; Bobby Eugene Guess; Mechanical Motion Solutions LLC; and related parties.

Affidavit for...

Susan Gay Pruitt, who sold interests in phantom oil and gas exploration projects in Texas and three other states, was sentenced to 22 years in prison on Tuesday in Collin County State District Court.

Pruitt pleaded guilty to theft and money laundering on Monday as her trial was about to...

Old Security Financial Group Inc. of Spring was fined $100,000 for selling unregistered investments in a “mortgage note program” supposedly backed by commercial real estate.

The fine, which will be paid to the General Fund of the State of Texas, was assessed against Old Security, its...

Charles Schwab & Co. Inc. was reprimanded and agreed to pay a $95,000 fine for failing to verify that certain individuals with powers of attorney in client accounts were required to be registered as investment advisers.

The reprimand and fine are part of a Consent Order entered by...