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TITLE 7BANKING AND SECURITIES
PART 7STATE SECURITIES BOARD
CHAPTER 127MISCELLANEOUS
RULE §127.4Prosecutorial Assistance to County or District Attorneys

(a) Prior to referring a case to a county or district attorney for prosecution pursuant to the Texas Securities Act, Section 3.A, the Commissioner shall make a determination of:

  (1) the Agency resources, including the number and types of Agency employees, that would potentially be needed to assist in the prosecution of the case; and

  (2) the availability of Agency employees and other resources necessary to carry out any request for assistance.

(b) In making the determination in subsection (a) of this section, the Commissioner must consider:

  (1) whether resources are available after taking into account any ongoing Board investigations, investigations under §28 of this Act, and criminal prosecutions for which assistance is being provided;

  (2) the seriousness of the alleged violation or violations in the case, including the severity of the harm and number of victims involved; and

  (3) the state's interest in the prosecution of a particular case and the availability of other methods of redress for the alleged violations, including the pursuit of a civil action.

(c) If a change in circumstances occurs after the time of the determination under subsection (a) of this section, the Commissioner may reconsider the determination and may increase or reduce the number of Board employees or other resources to be made available for a case using the process established in this section.


Source Note: The provisions of this §127.4 adopted to be effective February 27, 2020, 45 TexReg 1221

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