Analyzing Complaint Against Texas AG Ken Paxton
Texas Lawyer asked San Antonio criminal defense lawyer Cynthia Orr to analyze an advocacy group's complaint against Texas Attorney General Ken Paxton alleging that he committed a felony under state securities law.
April 19, 2015 at 10:06 PM
5 minute read
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.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 5'You Are Not Alone': 120 Sex Assault Victims Plan to Sue Sean 'Diddy' Combs
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250