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Notice of Proposed Rule Changes to be published in the December 15, 2023, issue of the Texas Register:
Implementation of SB 422 Relating to Military Applicants:
Amending §115.18(b), (d), (e), and (h), concerning special provisions relating to military applicants, to implement changes to Chapter 55 of the Occupations Code; and make nonsubstantive changes to update references and conform terminology; and add subsection (i) to state the purpose of the section.
Chapter 116. Investment Advisers and Investment Adviser Representatives.
Amending §116.18(b), (d), (e), and (h), concerning special provisions relating to military applicants, to implement changes to Chapter 55 of the Occupations Code; and make nonsubstantive changes to update references and conform terminology; and add subsection (i) to state the purpose of the section.
Chapter 133. Forms.
New Form 133.22, Waiver or Refund Request by a Military Service Member or Military Spouse for a Renewal Fee, and new Form 133.23, Request for Recognition of Out-Of-State License or Registration Pursuant to Occupations Code §55.0041.
Repeal of Form 133.22, Waiver or Refund Request by a Military Spouse for a Renewal Fee, and Form 133.23, Request for Recognition of Out-Of-State License or Registration by a Military Spouse.
Nonsubstantive Amendments in Connection with Rule Review. The rule changes below generally involve updating citations to reference the codified Texas Securities Act and/or edits to improve accuracy, consistency, and readability. Other changes specific to a rule are described below:
Chapter 106. Guidelines for the Assessment of Administrative Fines.
Amend §106.1, concerning guidelines for the assessment of administrative fines.
Chapter 107. Terminology.
Amend §107.1, concerning general.
Amend §107.2, concerning definitions, relocate provisions within the rule, remove obsolete terminology and conform to current terminology, and add new definitions for "NASAA" and "CFR."
Chapter 113. Registration of Securities.
Repealing §113.1, concerning qualification of securities.
Adding new §113.1, concerning definitions.
Amend §113.2, registration by coordination, to rename the section and incorporate the qualification of securities provisions from §113.1, which is being proposed for repeal.
Amend §113.3(1), concerning fair, just, and equitable standards.
Amend §113.4(d)(2) and (e), application for registration, to provide alternative means for notification of abandonment of an application.
Amend §113.5(a) and (c), concerning financial statements.
Amend §113.6, concerning renewal update.
Amend §113.8, concerning notification of status in other states.
Amend §113.9, concerning securities underlying transferable warrants and employee stock options.
Amend §113.11(a)(1) and (b)(1), concerning shelf registration of securities.
Amend §113.12, concerning applicability of statements of policy to exempt offerings.
Amend §113.13(a)-(c) and (e), concerning multijurisdictional disclosure system–MJDS offerings, to remove references to an obsolete federal form.
Amend §113.14(a) and (c), concerning statements of policy.
Chapter 114. Federal Covered Securities.
Amend §114.1(b), concerning introduction, to add a newly defined term appearing in §114.2.
Amend §114.2(1) and (4), concerning definitions, to add a new term "Exemptions Sections" and remove definitions that duplicate those already appearing in §107.2.
Amend §114.4(a)-(b), (d), and (f), concerning filings and fees, to remove duplicate definitions; and replace quotations of statutory language concerning fees with references to the appropriate statutory provision.
Chapter 123. Administrative Guidelines for Registration of Open-End Investment Companies.
Amend §123.3(a)-(e), and (g)-(i), concerning conditional exemption for money market funds.
Chapter 127. Miscellaneous.
Amend §127.1, concerning enforcement, to remove quotations of statutory language that has changed.
Amend §127.3, concerning seal of the state.
Amend §127.4(a)-(b), concerning prosecutorial assistance to county or district attorneys.
Chapter 131. Guidelines for Confidentiality of Information.
Amend §131.1(a), concerning information sharing.
Chapter 135. Industrial Development Corporations.
Amend §135.1, concerning exemption.
Chapter 137. Administrative Guidelines for Regulation of Offers.
Amend §137.1, concerning application.
Amend §137.2, concerning filing requirements, to fix an incorrect reference.
Amend §137.3, concerning preliminary prospectus.
Amend §137.6(a) and (e), concerning standards for supplemental advertising, to update terminology.