Minutes - May 20, 2021

A meeting of the State Securities Board was held remotely on May 20, 2021, via telephone conference call, at 10:00 a.m., as authorized under the Texas Government Code, section 551.125, and Governor Abbott’s temporary suspension of certain provisions of the Texas Open Meetings Act requiring government officials and members of the public to be physically present at a specified meeting location.

Those present were: E. Wally Kinney, Chair; Member; Kenny Koncaba, Member; Robert Belt, Member; Melissa Tyroch, Member; Ejike E. Opka II, Member; Travis J. Iles, Securities Commissioner; Clinton Edgar, Deputy Commissioner; Tommy Green, Director, Inspections and Compliance Division; Derek Lauterjung, Director Staff Services Division; Joseph J. Rotunda, Director, Enforcement Division; Marlene K. Sparkman, General Counsel; Emily Diaz, Assistant Director, Registration Division; Betsy Hodges, Assistant Director, Inspections and Compliance Division; Tina Lawrence, Assistant Director, Enforcement Division; Cheryn Netz, Assistant General Counsel; Misty Smith, Assistant Director, Staff Services Division; Shaun Yarroll, Assistant Director, Registration Division; Wesley Ogilvie, Attorney, General Counsel Division; Cristi Ochoa, Attorney, Inspections and Compliance Division; Robin Brady, IT, Staff Services Division; and Sonia Fergerson, Executive Assistant.

Chair Kinney called the meeting to order at 10:04 a.m.

Chair Kinney welcomed new Member Opka and noted that he cannot yet vote on items requiring Board approval, as he has not completed all of the mandatory board member training.

Minutes of the February 18, 2021, meeting were approved.

Chair Kinney stated the internal auditors Garza/Gonzalez & Associates, have not yet completed the Internal Audit Plan for FY 2021, which was the next item on the agenda for approval, and therefore the Board could not vote to approve it at this meeting. He asked that it be placed on the agenda for a future meeting to be scheduled in late June or July once the plan is completed.

The Commissioner gave a report on the Agency’s budget and performance measures.

The Commissioner gave an update on the Agency’s legislative appropriations request and gave a report on pending legislation.

The Commissioner gave a general update on Agency operations.

The Board then discussed possible times and dates for a future Board meeting in June or early July to approve the Internal Audit plan and selected 10:00 a.m. on June 24, 2021.

The meeting was then adjourned at 11:15 a.m.