For Professionals & the Industry
Registration of Dealers & Investment Advisers
Regulation of Securities Offerings
For Investors
Learn the CORE FOUR
Learning about investing starts with the CORE FOUR: Making Investments, Investing for Retirement, Choosing a Financial Professional, and Scams & Unsuitable Investments. All are available in Spanish.
Order the 2020 Texas Investor Guide
Order the 10th anniversary edition of the Texas Investor Guide: Strategies for Investing Wisely and Avoiding Financial Fraud. For free copies, provide a mailing address to txig@ssb.texas.gov. The Investor Guide is also in Spanish.
The Latest News & Publications
Joshua Allen, Michael Cox, and Brooklynn Chandler Willy Indicted on Federal Charges
On July 2, 2025, a federal grand jury returned an indictment, recently unsealed, charging Joshua Allen of Lubbock, Texas, Michael Cox of Lubbock, Texas, and Brooklynn Chandler Willy, of San Antonio, Texas, each with one count of conspiracy to...
Texas Joins Multiple States in Multimillion-Dollar Settlement Related to Unreasonable Commissions
The Texas State Securities Board announced today that it has joined a multi-state settlement with five firms after reviewing the firms’ practices of charging unreasonable commissions to retail customers on small-dollar transactions. Texas, along with Alabama, Iowa, Massachusetts, Missouri, Montana...
Josip Heit’s Latest Alleged Fraud Case Set for April 8, 2025
In September 2024, the Texas State Securities Board settled its allegations against Josip Heit and various other respondents often referred to as GSB Group or GSB Germany. The parties executed a term sheet that required Heit and other respondents, in...
Millions to be Returned to Retirement Value Investors
Last Friday, Travis County State District Judge, Maya Guerra Gamble, ruled in favor of a motion to distribute more than $4.5 million to investors in Retirement Value, LLC (RV). The motion was filed on March 4, 2025, by Michael D...
About the Texas Securities Board
Our Mission
The State Securities Board is responsible for administering and enforcing the Texas Securities Act. The mission of the State Securities Board is to protect Texas investors. Consistent with that purpose, the Agency seeks to ensure a free and competitive securities market for Texas, increase investor confidence, and thereby encourage the formation of capital and the creation of new jobs in Texas.
