Feb 1
2012

Investor Alert: Chasing Yield

Following the Federal Reserve's announcement that interest rates are expected to remain at exceptionally low levels until at least late 2014, the Texas State Securities Board cautions investors to beware of risky or outright fraudulent investments promising higher yield or returns.

"...

Dec 22
2011

BNY Mellon Settles with Texas Over Probe into Rigged Bond Bidding

BNY Mellon Capital Markets LLC will pay $1.3 million to Texas and two other states for its role in a scheme to lower borrowing costs for Citizens Property Insurance Corp. of Florida.

Texas' $500,000 share of the settlement goes to the state's general revenue fund.

According to a...

Dec 14
2011

John Morgan Named New Texas Securities Commissioner

The Texas State Securities Board today welcomed back John Morgan, naming him the new Texas Securities Commissioner. Morgan had served as Deputy Commissioner for 14 years before retiring from state employment in February.

Morgan's 27 .5 years of experience at the Agency includes 13 years...

Oct 21
2011

Central Texas Man Indicted in Oil and Gas Fraud Targeting Elderly Investors

A Hays County grand jury has indicted Robbie Dale Walker of Dripping Springs on one count of theft of more than $200,000 in connection with an alleged oil and gas scam involving elderly investors.

The indictment was issued Oct. 12 and unsealed Oct. 21. Walker was arrested June 29 on a...

Oct 17
2011

Defrauded Investors in Austin Company Due to Receive Some Funds Back

Investors in the Warr Investment Group LLC of Austin, which the State Securities Board forced into receivership earlier this year, will receive nearly one-third of their money back, with the potential for additional payments.

A State Securities Board investigation of Warr Investment...

Sep 7
2011

Securities Commissioner Warns of Dangers in Social Media, Online Marketing

The rise in popularity of Facebook, YouTube, Twitter, LinkedIn, and myriad other websites and online networks have given con artists a new way to peddle fraudulent investment scams, Securities Commissioner Benette L. Zivley warns investors.

"Today, crooks are increasingly logging on to...

Jun 8
2011

Keep Financial Preparedness in Mind as Hurricane Season Starts

As hurricane season begins, the Texas State Securities Board urges Texans to take steps now to protect their household finances in the event of a disaster.

"It's important to organize and protect your financial records under ordinary circumstances, but Texans living along the Gulf Coast...

May 26
2011

Central Texas Man Who Stole From Investment Clients Sentenced To 25 Years

A Limestone County jury today sentenced Reginald Lee Clark to 25 years in state prison after convicting him of stealing more than $400,000 from clients of his investment advisory business. The 12-member jury convicted Clark on a charge of theft on May 25.

Clark was not registered to sell...

Apr 26
2011

North Texas Man Sentenced to 25 Years in Oil Field Scam

Chad Michael Hays of McKinney, who was convicted of fraud and 16 other charges in connection with the sale of nearly $400,000 in fraudulent oil and gas investments, was sentenced to 25 years in state prison on April 25 in Hunt County state district court.

A Hunt County jury last week...

Mar 10
2011

State Securities Regulators Mark 100 Years of Investor Protection

State securities regulators throughout the United States are marking the 100th anniversary of the nation's first state securities law, which went into effect in Kansas on March 10, 1911. Texas enacted its first securities statute in 1913.

"For 100 years, state securities regulators have...

Feb 28
2011

Benette L. Zivley Sworn In As Texas Securities Commissioner

Benette L. Zivley was sworn in today as the sixth Securities Commissioner in Texas history and pledged to build upon the Texas State Securities Board's 53-year record of vigilant oversight of the securities industry.

"We have an awesome responsibility - to protect Texas investors - and...

Feb 16
2011

Benette L. Zivley Named New Texas Securities Commissioner

The Texas State Securities Board today unanimously voted to appoint Benette L. Zivley as the next Texas Securities Commissioner. Zivley, currently the Director of the Inspections & Compliance Division of the Securities Board, will assume his new duties on March 1.

Zivley becomes the...

Jan 11
2011

Executives in 'Death-Benefits' Company Indicted for Securities Fraud

Howard Glenn Judah Jr. and Gregory F. Jablonski, executives for a Houston-based company that was shut down in 2009 based upon an investigation by the Texas State Securities Board, have been indicted by a Harris County grand jury.

Judah , the CEO of National Life Settlements LLC of...

Pages