| (a) This chapter relates to offers to sell securities
which must be filed with the Commissioner under the Texas Securities
Act, Chapter 4003, Subchapter E.
(b) This chapter does not apply to advertising for
sales made in reliance upon exemptions contained in the Act, Chapter
4005, Subchapters A or B, including exemptions by rule adopted by
the State Securities Board pursuant to the Texas Securities Act, §4005.024.
(c) This chapter does not require the filing of any
offering documents, prepared by or on behalf of the issuer, in connection
with the offer of federal covered securities, as that term is defined
in §107.2 of this title (relating to Definitions).
(d) The Texas Securities Act prohibits fraud or fraudulent
practices in connection with the purchase or sale of any security,
whether exempt or not. The Agency has jurisdiction to investigate
and bring enforcement actions with respect to fraud or deceit, or
unlawful conduct by a dealer or agent, in connection with any securities
subject to the Texas Securities Act, including federal covered securities
or transactions involving federal covered securities.
|
| Source Note: The provisions of this §137.1 adopted to be effective August 12, 1980, 5 TexReg 3043; amended to be effective May 16, 1991, 16 TexReg 2472; amended to be effective April 8, 1997, 22 TexReg 3229; amended to be effective April 7, 2024, 49 TexReg 2068 |
