News Releases

Oct 9
2025

Commissioner Issues Order Revoking the Registration of an Austin-based Investment Adviser

Earlier today, Texas Securities Commissioner Travis J. Iles entered an order revoking the registrations of Austin-based Smith Wealth Advisors, LLC and its sole owner and investment adviser representative, Ronald Dewayne Smith, Jr. (collectively, “Respondents”). You may view the order here. After...
Sep 30
2025

Orders Issued by SEC and by TSSB Commissioner approving TXSE as a Stock Exchange

The Texas Stock Exchange (TXSE) application as a national securities exchange has received SEC approval; you may find the SEC order here. 

The Texas Securities Board order approving TXSE as a recognized and responsible exchange may be found here.

Governor Abbott congratulated TXSE on its approval; the Press Release may be found here.

Aug 14
2025

Notice of Public Hearing

The Securities Commissioner of the Texas State Securities Board will hold a public hearing on the matter of the application for an approval of a stock exchange to be held on August 28, 2025. Click Here to Read the Full Release Click Here to View the Open Meetings Act Notice (submitted August 12...
Jul 23
2025

Texas State Securities Board Issues Guidance on Investment Advisers' Use of Data Aggregation Services

The Texas State Securities Board (“TSSB”) is issuing this notice to provide guidance to investment advisers and their clients regarding the use of data aggregation services and third-party platforms. Click Here to Read Full News Release
Jul 23
2025

Recent flooding has brought devastation across Texas—it can also bring investment fraud

Recent flooding in Central Texas has brought devastation across the state. As people across Texas mourn and begin to rebuild, the Texas State Securities Board wants to caution individuals of potential investment scams. Click Here to Read Full News Release
Jul 16
2025

Joshua Allen, Michael Cox, and Brooklynn Chandler Willy Indicted on Federal Charges

On July 2, 2025, a federal grand jury returned an indictment, recently unsealed, charging Joshua Allen of Lubbock, Texas, Michael Cox of Lubbock, Texas, and Brooklynn Chandler Willy, of San Antonio, Texas, each with one count of conspiracy to commit wire fraud, one count of conspiracy to commit...
Jun 9
2025

Texas Joins Multiple States in Multimillion-Dollar Settlement Related to Unreasonable Commissions

The Texas State Securities Board announced today that it has joined a multi-state settlement with five firms after reviewing the firms’ practices of charging unreasonable commissions to retail customers on small-dollar transactions. Texas, along with Alabama, Iowa, Massachusetts, Missouri, Montana...
Apr 2
2025

Millions to be Returned to Retirement Value Investors

Last Friday, Travis County State District Judge, Maya Guerra Gamble, ruled in favor of a motion to distribute more than $4.5 million to investors in Retirement Value, LLC (RV). The motion was filed on March 4, 2025, by Michael D. Napoli, counsel to the court-appointed receiver in control of the...
Feb 28
2025

Updates to Texas State Securities Board Rules Concerning Dealers and Investment Advisers, Agents, and Investment Adviser Representatives

EFFECTIVE MARCH 13, 2025, THE TEXAS STATE SECURITIES BOARD IS PLEASED TO ANNOUNCE THE ADOPTION OF RULES TO RECOGNIZE FINRA MQP AND NASAA EVEP, AS WELL AS OTHER RULES ADOPTING THE SEC REGULATION BEST INTEREST AND THE SEC MARKETING RULE BY REFERENCE, AND RULES RECOGNIZING FINRA RULES ON RESIDENTIAL...
Jan 17
2025

Texas joins Multiple States in $106 Million Restitution Settlement with Vanguard for Supervisory and Disclosure Failures

The Texas State Securities Board announced today that it joined a taskforce of state securities regulators and the United States Securities and Exchange Commission (SEC) in a $106 million restitution settlement with Vanguard Marketing Corporation (VMC) and The Vanguard Group, Inc. (Vanguard). The...