Texas Proposes Administrative Procedure Rule Amendments

Amendments to the rules of practice in contested cases were proposed by the Texas Securities Board to more closely align the rules with the Texas Securities Act, the Administrative Procedures Act and the rules of the State Office of Administrative Hearings. Provisions would cover administrative hearing notices and costs; burden or proof; subpoenas and depositions; default; informal dispositions, decisions and orders by the Securities Commissioner; motions for rehearing; records; and ex parte communications. Other proposed changes would correct a cross-reference in a shelf registration rule and update a citation to the Texas Development Corporation Act.