Jun 29
2021
2021
Texas Securities Commissioner, Travis J. Iles, entered an order today suspending the license of Dallas-based investment adviser and agent Michael E. Witt for a period of thirty days due to Witt’s inequitable business practices in connection with a former advisor sunsetting program at his prior firm. In addition to the 30-day suspension, Witt’s license was placed on a 6-month probation. He will also contribute $30,000 to the lnvestor Education Fund of the lnvestor Protection Trust of Texas.
In another order entered today by Texas Securities Commissioner, Travis J. Iles, Tennessee-based investment adviser, Paul Winkler, Inc., was fined $5,000 for rendering services as an investment adviser in Texas during a time when the firm was not properly registered. The firm’s registration as an investment adviser in Texas was granted as part of the order as well.