Tex. Gov't Code Section 4007.102
Cease and Desist Order: Investment Adviser or Investment Adviser Representative

(a)

Notwithstanding any provision of this title to the contrary, the commissioner may hold a hearing as provided by this section if at any time it appears to the commissioner that:

(1)

an investment adviser or investment adviser representative is engaging or is likely to engage in fraud or a fraudulent practice with respect to rendering services as an investment adviser or investment adviser representative; or

(2)

a person is acting as an investment adviser or investment adviser representative in violation of this title.

(b)

A hearing under this section must be held not later than the 30th day after the date the person described by Subsection (a):

(1)

receives actual notice; or

(2)

is provided notice by registered or certified mail, return receipt requested, to the person’s last known address.

(c)

After the hearing, the commissioner shall issue or decline to issue a cease and desist order. An order issued under this subsection must:

(1)

require the investment adviser or investment adviser representative to immediately cease and desist from the fraudulent conduct; or

(2)

prohibit an unregistered or other unauthorized person who is not exempt from the registration or notice filing requirements of this title from acting as an investment adviser or investment adviser representative in violation of this title.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.

Source: Section 4007.102 — Cease and Desist Order: Investment Adviser or Investment Adviser Representative, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­4007.­htm#4007.­102 (accessed May 4, 2024).

4007.001
Enforcement by Commissioner, Attorney General, and District or County Attorney 4007.002
Means of Enforcement Not Exclusive 4007.051
Complaints Filed with Commissioner or Board 4007.052
Inspections 4007.053
Investigative Authority 4007.054
Service of Subpoena, Summons, or Other Process 4007.055
Enforcement of Subpoena 4007.056
Confidentiality of Investigative Information 4007.057
Compensation of Witnesses 4007.058
Imposition of Costs on Parties 4007.059
Assistance to Securities Regulators in Other Jurisdictions 4007.101
Cease and Desist Order: Offer or Sale of Securities 4007.102
Cease and Desist Order: Investment Adviser or Investment Adviser Representative 4007.103
Cease Publication Order 4007.104
Emergency Cease and Desist Order 4007.105
Denial, Suspension, or Revocation of Registration 4007.106
Assessment of Administrative Fine 4007.107
Hearings on Certain Matters 4007.108
Refund 4007.151
Receivership 4007.152
Injunctive Relief 4007.153
Equitable Relief and Restitution 4007.154
Civil Penalty 4007.155
Recovery of Costs 4007.201
Unauthorized Sale of Securities 4007.202
Unauthorized Rendering of Services as Investment Adviser or Investment Adviser Representative 4007.203
Fraudulent Conduct 4007.204
Materially False Statement in Document or Proceeding 4007.205
False Statement or Representation Concerning Registration 4007.206
Violation of Cease and Desist Order 4007.207
Noncompliant Offer or Offer Prohibited by Cease Publication Order 4007.208
Aggregation of Amounts 4007.209
Liability of Corporation
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Accessed:
May 4, 2024

§ 4007.102’s source at texas​.gov