TITLE 7. BANKING AND SECURITIES

PART 7. STATE SECURITIES BOARD

CHAPTER 113. REGISTRATION OF SECURITIES
7 TAC §113.14

The Texas State Securities Board adopts an amendment to §113.14, concerning statements of policy, without changes to the proposed text as published in the January 31, 2014, issue of the Texas Register (39 TexReg 459).

The amendment adopts by reference certain updated North American Securities Administrators Association ("NASAA") statements of policy ("SOPs") that were amended on May 6, 2012, to revise the cross-reference sheets to correspond to earlier changes in the SOPs.

Review of applications to register securities will be facilitated by having the cross-reference sheets correspond to the uniform SOPs used in this and other states.

No comments were received regarding adoption of the amendment.

The amendment is adopted under Texas Civil Statutes, Article 581-28-1. Section 28-1 provides the Board with the authority to adopt rules and regulations necessary to carry out and implement the provisions of the Texas Securities Act, including rules and regulations governing registration statements and applications; defining terms; classifying securities, persons, and matters within its jurisdiction; and prescribing different requirements for different classes.

The adopted amendment affects Texas Civil Statutes, Article 581-7.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on April 25, 2014.

TRD-201401987

John Morgan

Securities Commissioner

State Securities Board

Effective date: May 15, 2014

Proposal publication date: January 31, 2014

For further information, please call: (512) 305-8303