TITLE 7. BANKING AND SECURITIES
PART 7. STATE SECURITIES BOARD
CHAPTER 133. FORMS
7 TAC §§133.2 - 133.4, 133.9 - 133.11, 133.14, 133.15, 133.19 - 133.23
The Texas State Securities Board adopts the repeal of thirteen rules, concerning forms adopted by reference. Specifically, the Board adopts the repeal of §133.2, a form concerning Public Information Charges--Billing Detail; §133.3, a form concerning The State Securities Board Adopts by Reference the ADA Accommodations Request Form; §133.4, a form concerning Request for Consideration of a Registration Application by a Military Applicant; §133.9, a form concerning Notice Filing for Third Party Brokerage Arrangements on Financial Entity Premises; §133.10, a form concerning Investment Company Report of Sales; §133.11, a form concerning Sales Report for Non-continuous Offerings; §133.14, a form concerning Consent of Independent Accountants; §133.15, a form concerning Texas Crowdfunding Portal Registration; §133.19, a form concerning Waiver or Refund Request by a Military Applicant; §133.20, a form concerning Texas Crowdfunding Portal Registration by an Authorized Small Business Development Entity; §133.21, a form concerning Crowdfunding Exemption Notice (SEC Rule 147A Offerings using §139.26); §133.22, a form concerning Waiver or Refund Request by a Military Spouse for a Renewal Fee; and §133.23, a form concerning Request for Recognition of Out-Of-State License or Registration by a Military Spouse, without changes to the proposed text as published in the October 21, 2022, issue of the Texas Register (47 TexReg 6953). The repealed rules will not be republished.
The repealed forms have been replaced with new forms being concurrently adopted that have been updated to standardize and improve them through nonsubstantive changes.
Thirteen existing forms have been eliminated so they can be replaced with improved standardized forms.
No comments were received regarding adoption of the repeals.
The repeals are adopted under the authority of the Texas Government Code, §4002.151. Section 4002.151 provides the Board with the authority to adopt rules as necessary to implement the provisions of the Texas Securities Act, including rules governing registration statements, applications, notices, and reports; defining terms; classifying securities, persons, and matters within its jurisdiction; and prescribing different requirements for different classes. The repeal of rule §133.3 is also adopted under the authority of the Texas Occupations Code, §54.003, which provides that agencies shall adopt rules to provide reasonable examination accommodations to examinees diagnosed as having dyslexia for each licensing examination administered by the agency. The repeals of rules §§133.4 and 133.19 are also adopted under the authority of Chapter 55 of the Texas Occupations Code, which authorizes the agency to adopt rules for licensure or registration of a person who is a military spouse, military service member, or military veteran who meets certain criteria. The repeal of rule §133.20 is also adopted under the authority of the Texas Government Code, §4003.252(a), which provides the Board with the authority to adopt rules to regulate and facilitate online intrastate crowdfunding by authorized small business development entities. The repeals of rules §§133.22 and 133.23 are also adopted under the authority of the Texas Occupations Code, §55.0041, which requires a state agency that issues a license to adopt rules to implement §55.0041 and authorizes a state agency to adopt rules to provide for the issuance of a license to a military spouse to whom the agency provides confirmation under subsection (b)(3) of §55.0041.
The repeals affect Chapters 4003 to 4006 of the Texas Government Code, particularly the statutes contained in Chapter 4003, Subchapters A and F; Chapter 4004, Subchapters A-D and F; Chapter 4005, Subchapter A; and Chapter 4006, Subchapters A-C and E; as well as Texas Government Code, §4007.105.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on March 27, 2023.
TRD-202301183
Travis J. Iles
Securities Commissioner
State Securities Board
Effective date: April 16, 2023
Proposal publication date: October 21, 2022
For further information, please call: (512) 305-8303
7 TAC §§133.2 - 133.4, 133.9 - 133.11, 133.14, 133.15, 133.19 - 133.23
The Texas State Securities Board adopts thirteen rules concerning forms adopted by reference. Specifically, the State Securities Board adopts new §133.2, a form concerning Public Information Charges - Billing Detail; §133.3, a form concerning ADA Accommodations Request; §133.4, a form concerning Request for Consideration of a Registration Application by a Military Applicant; §133.9, a form concerning Notice Filing for Third Party Brokerage Arrangements on Financial Entity Premises; §133.10, a form concerning Investment Company Report of Sales in the State of Texas; §133.11, a form concerning Sales Report for Non-continuous Offerings; §133.14, a form concerning Consent of Independent Accountants; §133.15, a form concerning Texas Crowdfunding Portal Registration; §133.19, a form concerning Waiver or Refund Request by a Military Applicant; §133.20, a form concerning Texas Crowdfunding Portal Registration by an Authorized Small Business Development Entity; §133.21, a form concerning Crowdfunding Exemption Notice; §133.22, a form concerning Waiver or Refund Request by a Military Spouse for a Renewal Fee; and §133.23, a form concerning Request for Recognition of Out-Of-State License or Registration by a Military Spouse, without changes to the proposed text as published in the October 21, 2022, issue of the Texas Register (47 TexReg 6954). The new rules will not be republished.
The new sections adopt by reference forms that are updated to standardize and improve the forms through nonsubstantive changes. Additionally, the name of Form 133.3 is changed to more concisely describe the form; the name of Form 133.10 is changed to add "in the State of Texas" to remind the reporting party that only sales in Texas need be included in the report; and the name of Form 133.21 is changed to remove an unnecessary parenthetical. Existing forms §§133.2 - 133.4, 133.9 - 133.11, 133.14, 133.15, and 133.19 - 133.23 are being concurrently adopted for repeal.
Thirteen forms have been replaced with new, improved, and updated forms.
No comments were received regarding adoption of the new rules.
The new rules are adopted under the authority of the Texas Government Code, §4002.151. Section 4002.151 provides the Board with the authority to adopt rules as necessary to implement the provisions of the Texas Securities Act, including rules governing registration statements, applications, notices, and reports; defining terms; classifying securities, persons, and matters within its jurisdiction; and prescribing different requirements for different classes. New rule §133.3 is also adopted under the authority of the Texas Occupations Code, §54.003, which provides that agencies shall adopt rules to provide reasonable examination accommodations to examinees diagnosed as having dyslexia for each licensing examination administered by the agency. New rules §§133.4 and 133.19 are also adopted under the authority of Chapter 55 of the Texas Occupations Code, which authorizes the agency to adopt rules for licensure or registration of a person who is a military spouse, military service member, or military veteran who meets certain criteria. New rule §133.20 is also adopted under the authority of the Texas Government Code, §4003.252(a), which provides the Board with the authority to adopt rules to regulate and facilitate online intrastate crowdfunding by authorized small business development entities. New rules §§133.22 and 133.23 are also adopted under the authority of the Texas Occupations Code, §55.0041, which requires a state agency that issues a license to adopt rules to implement §55.0041 and authorizes a state agency to adopt rules to provide for the issuance of a license to a military spouse to whom the agency provides confirmation under subsection (b)(3) of §55.0041.
The new rules affect Chapters 4003 to 4006 of the Texas Government Code, particularly the statutes contained in Chapter 4003, Subchapters A and F; Chapter 4004, Subchapters A-D and F; Chapter 4005, Subchapter A; and Chapter 4006, Subchapters A-C and E; as well as Texas Government Code, §4007.105.
The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on March 27, 2023.
TRD-202301182
Travis J. Iles
Securities Commissioner
State Securities Board
Effective date: April 16, 2023
Proposal publication date: October 21, 2022
For further information, please call: (512) 305-8303