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State Securities Board

Texas Capitol Rotunda
    • Next Review Date: 2030-2031 Review Cycle - 92nd Legislative Session
    • Last Review Date: 2018-2019 Review Cycle - 86th Legislative Session

    Sunset Review Documents for 2018-2019 Review Cycle, 86th Legislative Session

    Legislative Documents

    Final Results from Last Sunset Report

    Continue

    • Continue the State Securities Board for 12 years.

    Enforcement

    • Clarify statute to authorize the agency to provide prosecutorial assistance and require the agency to develop a process to determine staff resources available to support prosecutions.  Authorize the agency to reconsider the level of resources that can be provided to support a criminal case if a change occurs after the initial determination of resources.
    • Authorize the agency to order refunds for violations of agency statute or rules in both contested and uncontested cases.
    • Direct the agency to develop a penalty matrix for both administrative penalties and sanctions recommended for final enforcement actions, and to submit a brief report on the implementation of this recommendation to the Sunset Commission by March 15, 2019.  (Management action – nonstatutory)
    • Direct the board to develop and adopt rules describing all phases of its complaint process, and to submit a brief status report on the implementation of this recommendation to the Sunset Commission by March 15, 2019.  (Management action – nonstatutory)
    • Direct the agency to review its risk-based inspection tool at least every four years.  (Management action – nonstatutory)
    • Direct the agency to improve its tracking of complaint and case resolution timeframes, and to submit a brief status report on the implementation of this recommendation to the Sunset Commission by March 15, 2019.  (Management action – nonstatutory)

    Licensing

    • Remove the requirement that branch offices be registered.
    • Direct the agency to accept online submissions of applications and fees, and to develop and present a detailed plan outlining how the agency will complete this recommendation to the Sunset Commission by March 15, 2019.  (Management action – nonstatutory)
    • Direct the agency to remove the notarization requirements on its forms by March 15, 2019. (Management action – nonstatutory)

    Governance

    • Update and apply the standard across-the-board recommendations related to complaint information, alternative dispute resolution, and board member training, including training on anticompetitive board behavior.
    • Continue the agency’s statutory reporting requirement and require the agency to include information about the agency’s budget spent in supporting criminal prosecutions and the overall status of such cases.