Texas Government Code 4007.059 – Assistance to Securities Regulators in Other Jurisdictions
Current as of: 2024 | Check for updates
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(a) On request from a securities regulator of another state or of a foreign jurisdiction, the commissioner may provide assistance to the regulator in conducting an investigation to determine whether a person has violated, is violating, or is about to violate a law or rule of the other state or foreign jurisdiction relating to a securities matter that the regulator is authorized to administer or enforce.
(b) The commissioner may provide assistance under this section through the use of the authority to investigate and any other power conferred by this section or § 4007.054, 4007.055, 4007.056, or 4007.057, as the commissioner determines to be necessary and appropriate.
Terms Used In Texas Government Code 4007.059
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005
(c) In determining whether to provide assistance under this section, the commissioner may consider whether:
(1) the securities regulator is permitted and has agreed to provide assistance within the regulator’s jurisdiction to the commissioner reciprocally and at the commissioner’s request concerning securities matters;
(2) compliance with the request for assistance would violate or otherwise prejudice the public policy of this state;
(3) the conduct described in the request would also constitute a violation of this title or another law of this state had the conduct occurred in this state; and
(4) board employees and board or commissioner resources necessary to carry out the request for assistance are available.