Texas Securities Act and Board Rules

Texas Securities Act

The Texas Securities Act is the state law regarding the regulation of the securities industry in Texas. The Act provides for the registration of securities offered or sold in Texas, and of firms and individuals who sell securities or render investment advice in the state. In certain circumstances a particular security, transaction, or person may be exempt from the registration requirements of the Act. Even when an exemption from the registration provisions is available, the Act prohibits fraud in the offer or sale of securities in Texas and in the rendering of investment advice. The Act provides for administrative, civil, and criminal sanctions for violations of its provisions.

Texas Securities Act (Effective January 1, 2022) PDF version with Index

Texas Securities Act (Effective September 1, 2021) PDF version with Index

Texas Securities Act (Effective September 1, 2019) PDF version with Index

Board Rules

The five-member State Securities Board periodically updates Board Rules for the administration and enforcement of the Texas Securities Act. Go to the official Texas Administrative Code maintained by the Secretary of State.  Looking for the Texas Intrastate Crowdfunding rules, forms, guidance, and FAQs?

Texas Securities Board Rules and Forms in PDF, effective July 18, 2024.

North American Securities Administrators Association (NASAA) Statements of Policy (SOP) adopted by reference in Rule 113.14.

Special provisions relating to military applicants (military service members, spouses of military service members, and military veterans who meet the certain requirements).

Approval of new or amended Board Rules is a two-step process: proposal and adoption. Recent Changes to Board Rules on this website include both proposed rules and recently adopted Rules.

Rule Review

Rule review timetable and status. The Agency recently completed a review of its rules in accordance with the Texas Government Code, §2001.039. The reviews are conducted on a four-year cycle in which the Agency staff and Board consider whether the reasons for adoption of the rules continue to exist and whether any changes are needed. The next cycle will begin in September 2026. 

Forms and Fees

Uniform Forms

Texas Forms

Fee Schedule

Legal rate of interest