News & Publications

News Releases

Feb 28
2025

Updates to Texas State Securities Board Rules Concerning Dealers and Investment Advisers, Agents, and Investment Adviser Representatives

EFFECTIVE MARCH 13, 2025, THE TEXAS STATE SECURITIES BOARD IS PLEASED TO ANNOUNCE THE ADOPTION OF RULES TO RECOGNIZE FINRA MQP AND NASAA EVEP, AS WELL AS OTHER RULES ADOPTING THE SEC REGULATION BEST INTEREST AND THE SEC MARKETING RULE BY REFERENCE, AND RULES RECOGNIZING FINRA RULES ON RESIDENTIAL...
Jan 17
2025

Texas joins Multiple States in $106 Million Restitution Settlement with Vanguard for Supervisory and Disclosure Failures

The Texas State Securities Board announced today that it joined a taskforce of state securities regulators and the United States Securities and Exchange Commission (SEC) in a $106 million restitution settlement with Vanguard Marketing Corporation (VMC) and The Vanguard Group, Inc. (Vanguard). The...
Jan 17
2025

Texas & Montana Lead Multiple States in $17 Million Settlement with Edward Jones for Supervisory Failures

The Texas State Securities Board announced today that it has joined a multi-state settlement with Edward D. Jones & Co., L.P. (Edward Jones) which will see Edward Jones pay $17 million in penalties for supervisory failures that affected main street investors. The four-year investigation was a...
All News Releases

Enforcement Actions: Administrative

Mar 12
2025

Notice of Hearing filed against GSB Gold Standard Bank LTD et al.

The Notice of Hearing was filed at the State Office of Administrative Hearings in SOAH Docket No. 312-25-13515, Texas State Securities Board v GSB Gold Standard Bank LTD DBA GS Smart Finance, Gold Standard Partners, GS Partners and GSP, GSB Gold Standard Banking Corporation PLC, GSB Gold Standard...
Mar 12
2025

Order No. IC-25-CAF-02

In the Matter of the Investment Adviser Registration of San Antonio Wealth, LLC: Reprimanded, Fined, & Undertaking

Feb 12
2025

Notice of Hearing filed against Smith Wealth Advisors, LLC, and Ronald Dewayne Smith, Jr.

The Notice of Hearing was filed at the State Office of Administrative Hearings. For inquiries contact Cristi Ochoa, Deputy Commissioner, by email at cochoa@ssb.texas.gov. 

All administrative actions

Enforcement Actions: Criminal & Civil

Oct 29
2021

Former Registered Securities Professional Entered a Plea to Securities Fraud and other Crimes

On October 29, 2021, Derrick R. Trussell (CRD No. 5197550) entered a plea of no contest to securities fraud, securing execution of a document by deception and misapplication of fiduciary property in Cause No. 2019-CR-5767B, in the 175th Judicial District Court of Bexar County, Texas. Trussell was...
Oct 28
2021

Warning to Victims of Rare Earth Exploration LLC, Bradley Sherman Haycraft and Timothy Taylor

The Texas State Securities Board is warning investors in Rare Earth Exploration LLC about a fake financial settlement scam involving the Gordon Black & Associates Law Firm and International Corporate Entity Inc. Scammers claiming to be employees of Gordon Black & Associates are contacting investors...
Oct 15
2021

Larry Steve Bassett - Indicted

On October 15, 2021, a grand jury sitting in Lee County, Texas, indicted Larry Steve Bassett for first-degree securities fraud, theft and money laundering. The charges relate to his alleged unlawful sale of investments in a trading program to 15 victims for approximately $1.5M. Bassett is accused of...
All civil & criminal actions

Publications

Texas Investor Guide Cover

Texas Investor Guide

Strategies for Investing Wisely and Avoiding Financial Fraud

Nest Egg, IRA, 401k, Money

Everyone's Investment Guide

A six-part online presentation covering Making Investments, the Principles of Investing, Investing for a Secure Retirement, Planning Withdrawals, and Avoiding Scams.

Cover

Financial Field Manual

A Personal Finance Guide for Military Families

All publications