A meeting of the State Securities Board was held on May 14, 2026, in Room 320, Thomas Jefferson Rusk State Office Building, at 10:00 a.m. Those present were: E. Wally Kinney, Chair; Robert Belt, Member; Melissa Tyroch, Member; Ejike E. Opka II, Member; David B. Montgomery, Member; Emily Diaz, Director, Registration Division; Tommy Green, Director, Inspections and Compliance Division; Jeramy E. Heintz, Director - Legal, Enforcement Division; Cheryn Netz Howard, General Counsel; Derek Lauterjung, Director, Staff Services Division; Rani Sabban, Director - Investigations, Enforcement Division; Febe Collazo-Martinez, Assistant Director, Registration Division; Misty Smith, Assistant Director, Staff Services Division; Matthew Bacon, Staff Attorney, General Counsel Division; Justin Bontrager, Staff Attorney, Enforcement Division; Sonia Fergerson, Executive Assistant; Myra Hernandez, Administrative Assistant, Registration Division; Nadda Rungruangphol, Staff Attorney, Legal and Investigations Division; and Shaun Yarroll, Senior Investigator, Legal and Investigations Division. Also attending were Richard Galindo and Mike Ward.
Chair Kinney called the meeting to order at 10:03 a.m.
Minutes of the February 19, 2026, meeting were approved.
Minutes of the April 9, 2026, meeting were approved.
After discussion and recommendation of the Audit Committee, the Board voted to approve the internal audit plan for fiscal year 2026 prepared by Garza/Gonzales & Associates.
The Director of Staff Services gave a report on the Agency’s budget and performance measures.
Each Division Director, and Nadda Rungruangphol, gave a general update on their respective Division’s operations.
The Board retired to executive session at 11:05 a.m. to deliberate the appointment of a new Securities Commissioner and to discuss the performance review of the Deputy Securities Commissioner pursuant to Section 551.074 of the Texas Government Code.
Following the executive session, the Board reconvened the open meeting at 12:11 p.m.
The Board noted approval of the Deputy Commissioner’s job performance.
The Board voted and approved a one-time merit-based compensation award for the Deputy Commissioner, Cristi Ramón Ochoa.
The Board voted to select and appoint Cristi Ramón Ochoa as the new Securities Commissioner pending certain conditions be met.
The meeting was then adjourned at 12:21 p.m.