|(a) The Securities Commissioner, without notice, may inspect
a registered dealer as necessary to ensure compliance with the Texas Securities
Act and Board rules.
(b) The Commissioner or his or her authorized representative,
during regular business hours, may:
(1) enter the business premises of a registered dealer; and
(2) examine and copy books and records pertinent to the inspection.
(c) During the inspection, the dealer shall:
(1) provide to the Commissioner or the Commissioner's authorized
representative immediate and complete access to the person's office, place
of business, files, safe, and any other location in which books and records
pertinent to the inspection are located; and
(2) allow the Commissioner or the Commissioner's authorized
representative to make photostatic or electronic copies of books or records
subject to inspection.
(d) A dealer may not charge a fee for copying information under
(e) The Commissioner or his or her authorized representative
may require that all records required to be maintained pursuant to Board rules
or maintained in the normal course of business of the dealer be made available
in any office of the State Securities Board designated by the Commissioner
or his or her representative within 48 hours of a request or within a greater
time period as the Commissioner or his or her authorized representative deems