The Texas State Securities Board today unanimously voted to appoint Benette L. Zivley as the next Texas Securities Commissioner. Zivley, currently the Director of the Inspections & Compliance Division of the Securities Board, will assume his new duties on March 1.
Zivley becomes the sixth Securities Commissioner since the Agency's creation in 1957. He succeeds Denise Voigt Crawford, who is retiring Feb. 28 after 17 years as Securities Commissioner. Deputy Commissioner John Morgan is also retiring Feb. 28.
"Benette Zivley brings a wealth of experience in state securities law, and the respect of his fellow regulators across the nation, to the job of Securities Commissioner,"said Beth Ann Blackwood of Dallas, the chair of the five-member State Securities Board. "We are confident in his ability to lead the Agency and indeed make it even better in this complex and ever-changing world for investors."
Zivley is a 12-year veteran of the State Securities Board. He said, "I'm honored to have the opportunity to build on the tremendous foundation established by Securities Commissioner Crawford, Deputy Commissioner Morgan, and the dedicated men and women of this Agency. The State Securities Board will continue to be an aggressive and vigilant voice for investors."
Zivley has overseen the Inspections & Compliance Division since 2003. Inspections & Compliance conducts comprehensive, unannounced review of records to make sure registered financial professionals are complying with the Texas Securities Act. The Division also brings administrative actions to ensure compliance, which may include fines for violation of the Act.
Zivley previously served as an attorney in the Enforcement Division of the State Securities Board from 1999 to 2003.
Zivley is nationally known for his work in securities law. He served as lead counsel for Texas and the North American Securities Administrators Association (NASAA) in multi-state cases that resulted in the buyback of billions of dollars in auction rate securities for investors.
Zivley received the NASAA Distinguished Service Award in 2009 for his work on auction rate securities cases and other regulatory issues.
Zivley received his law degree from the Thurgood Marshall School of Law at Texas Southern University in Houston in 1999. He earned a Bachelor of Science degree in criminal justice from Sam Houston State University in 1990.
He and his wife, Linda, have three children, and the family is active in community affairs in Central Texas.