An advocacy group filed a complaint against Texas Attorney General Ken Paxton that alleges he committed a third-degree felony by violating state securities laws between 2004 and 2012.

Texans for Public Justice of Austin on April 6 sent the Collin County District Attorney's office a complaint that alleged that while in Collin County, Paxton violated the Texas Securities Act by acting as an investment adviser representative without being registered with the Texas State Securities Board. The complaint said the allegations were based on a securities board disciplinary order against Paxton.

The securities board's May 2, 2014, disciplinary order said that Paxton occasionally solicited clients for Mowery Capital Management in exchange for 30 percent of MCM's asset management fees. In 2004, 2005 and 2012, Paxton solicited three clients to MCM, but he wasn't registered as an investment adviser representative as required under the securities act, said the order. It found that Paxton violated Section 12B of the securities act. He paid a $1,000 administrative fine and agreed to disclose certain information to future clients that he solicits.