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Open Meeting Archive

Agency Name:State Securities Board
Date of Meeting:01/27/2016
Time of Meeting:11:00 AM
Board:State Securities Board
Street Location:208 E. 10th Street, Room 320
City Location:Austin
State Location:TX
Status:Active
Date of Submission:01/15/2016
Additional Information Obtained From:John Morgan, Securities Commissioner, 208 E. 10th Street, 5th Floor, Austin, Texas 78701, (512)305-8301.
Emergency Mtg:N
Agenda:1. Minutes of August 25, 2015, Board Meeting.

2. Rules.

A. Published Rule Proposals.
1. Regulation A, Tier 2 federal covered securities. Amending 113.1, concerning qualification of securities.
2. Military applicants.
a. Amending 115.4(e) and 116.4(e), concerning evidences of registration, to relocate detailed provisions relating to renewals by military service members to 115.18 and 116.18 and implement changes made to the Occupations Code by Senate Bill 1307.
b. Amending 115.8 and 116.8, concerning fee requirements, to implement changes made to the Occupations Code by Senate Bill 807 and to provide for a fee reduction for small businesses registered in multiple capacities following the repeal of Section 41 of the Texas Securities Act in House Bill 7.
c. Amending 115.18 and 116.18, concerning special application provisions available to a military spouse, military service member, or military veteran, to implement changes made to the Occupations Code by Senate Bill 1307 and Senate Bill 807 relating to military applicants, and to relocate provisions from other sections that relate to military applicants.
d. Adopting new Form 133.4, concerning request for consideration of a registration application by a military applicant.
e. Repealing Form 133.4, concerning request for special consideration of a registration application by a military spouse, military service member, or military veteran.
f. Adopting new Form 133.19, concerning waiver or refund request by a military applicant.
3. Oil and Gas Auctions. Amending 139.12, concerning oil and gas auction exemption, to add "associate auctioneer" to the definition of "auctioneer" to recognize this new type of registration added by House Bill 2481.

B. New Rule Proposals.
1. Money Market Funds. Amending 123.3(b) to align the money market fund rule to SEC Rule 2a7 as revised by SEC Release IC-31166.
2. Implementation of New Section 44 Crowdfunding.
a. New 115.20, Texas Crowdfunding Portal Registration and Activities of Small Business Development Entities.
b. Amending 139.25(l), concerning Intrastate Crowdfunding Exemption, to implement Section 44, added to the Texas Securities Act by House Bill 1629, permitting certain small business development entities registered as Texas intrastate crowdfunding portals pursuant to new 115.20 to have a financial interest in an issuer listed on its Internet web portal.
c. New Form 133.20, Texas Crowdfunding Portal Registration by an Authorized Small Business Development Entity.

C. Rule Review and Readoption
1. Pursuant to the Notice Published September 4, 2015.
a. Chapter 109. Transactions Exempt From Registration.
b. Chapter 111. Securities Exempt From Registration.
c. Chapter 139. Exemptions by Rule or Order.
2. Pursuant to the Notice Published December 4, 2015.
a. Chapter 133. Forms.

3. Board Preapproval of a Prospective Grant from the Investor Protection Trust for Investor Education Purposes.

4. Review of the Agency's Internal Audit Report for FY 2015. Recommendation from the Board's Audit Committee Relating to the selection of internal auditor for the FY 2016 audit, possibly followed by a vote selecting the internal auditor for FY 2016. Annual selection of Audit Committee members.

5. Report on Budget and Performance.

6. General Update on Agency Operations from Securities Commissioner and Senior Staff.

7. Executive Session to conduct performance review of the Securities Commissioner.

8. Possible action on matters discussed in Executive Session.

Persons with disabilities who plan to attend this meeting and require auxiliary aids or services should contact Sonia Fergerson at (512) 305-8306 at least five business days prior to the meeting so that appropriate arrangements can be made.
TRD ID:2016000328
Datestamp:01/15/2016 09:36 AM
Archive Date:01/29/2016


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