<\/p>\n
Jeramy E. Heintz, the new commissioner of the Texas State Securities Board, takes over a state agency charged with protecting investors.<\/p>\n
Staff illustration<\/p>\n
Newly appointed Texas State Securities Board<\/a> Commissioner Jeramy E. Heintz said he planned to ensure that the 69-year-old agency continues to modernize its operations by leveraging emerging technologies to remain a national model for other state regulators in protecting investors and markets.<\/p>\n \u201cI\u2019m for an agency that embraces new technology, responds quickly and efficiently to emerging threats, and treats the public with the professionalism they deserve, never losing sight of our mission, which is protecting Texas investors,\u201d\u00a0Heintz, 44, told The Texas Lawbook<\/a>.\u00a0<\/p>\n Heintz, a 12-year veteran of the securities board, had served as director of enforcement before being named commissioner on June 18. He succeeds Travis Iles, who had been commissioner from 2017 until his retirement in mid-June after more than two decades of service to the agency.\u00a0<\/p>\n Article continues below this ad<\/p>\n \u201cThe future could make our financial system faster, more successful, and more efficient,\u201d Heintz said. \u201cBut we also must make sure to maintain the trust that makes the market work.\u201d\u00a0<\/p>\n Heintz said he planned to ensure the board played a prominent role in taking action against fraudsters and pointed to the board\u2019s legacy of taking some of the earliest regulatory enforcement against cryptocurrency investment schemes before federal enforcement actions followed.\u00a0<\/p>\n \u201cWe always want to say we\u2019re here to prevent, protect, and prosecute violations of the Securities Act,\u201d he said. \u201cThat\u2019s our job.\u201d\u00a0<\/p>\n As the board commissioner, Heintz will serve as the agency\u2019s administrative officer and oversee the day-to-day operations of the 85 full-time staff members, including enforcement, registration, inspections, investor education, and administration. \u00a0<\/p>\n Heintz, who graduated from Oklahoma City University School of Law and is licensed to practice law in Texas, serves at the pleasure of a five-member board appointed by the Texas governor and confirmed by the Texas Senate. Each board member serves a six-year overlapping term.\u00a0<\/p>\n Article continues below this ad<\/p>\n He said his \u201cnumber one goal\u201d while heading up enforcement was to recoup money from scamsters on behalf of victims. \u201cThe cases where we were able to return all or some of the funds to victims,\u201d he said, \u201cthose are the ones that stand out the most\u2026If there was no money, and it was criminal, you\u2019d want to get a conviction.\u201d<\/p>\n Texas\u2019s robust economy makes the state an attractive target for promoters of fraudulent investment schemes, he said. That comes as Texas has become home to the latest national securities exchange \u2014 the Texas Stock Exchange in Dallas<\/a>. The TXSE secured approvals from the Securities & Exchange Commission<\/a> and the State Securities Board in September 2025.<\/p>\n The agency will \u201cwalk a fine line\u201d in a carefully balanced, measured regulatory approach. If too harsh, he said, a regulatory system could limit incentives for businesses to raise capital in Texas and create barriers to accessing the funds needed to grow. However, an overly lenient regulatory system fosters an environment in which unscrupulous promoters can damage investor confidence, inhibit investment in the state, and erode legitimate businesses\u2019 access to needed capital.<\/p>\n \u201cWe have to continue to foster financial innovations in Texas,\u201d he said. \u201cTexas is in the lead for what\u2019s going on in technology and the financial industry\u2026 A strong, predictable enforcement division removes fraudsters and bad actors from the market, protecting legitimate businesses and allowing legitimate products to flourish.\u201d\u00a0<\/p>\n Heintz said the agency has valuable tools \u2014 administrative, civil, and criminal \u2014 to effectively redress a wide range of schemes. During his career, Heintz oversaw complex investigations involving investment fraud, digital assets, unregistered securities offerings, Ponzi schemes, affinity fraud, and elder financial exploitation.<\/p>\n Article continues below this ad<\/p>\n The agency has referred criminal matters to district attorneys and U.S. attorneys in Texas. Agency attorneys have often been appointed as special prosecutors to assist in drafting indictments, present cases to grand juries, and conduct felony trials for securities fraud and related offenses. In its investigations, the agency has worked extensively with federal and state regulatory and law enforcement partners, including the Federal Bureau of Investigation, the U.S. Department of Justice, the Securities and Exchange Commission, and securities regulators nationwide.\u00a0<\/p>\n According to the board\u2019s annual report for fiscal year 2025, the board opened 451 law enforcement investigations. The report also said that 96% of law enforcement actions were successful that year. That came as the number of individuals contacting the board for assistance increased dramatically over two years, doubling from 808 victim reports in fiscal 2023 to 1,664 in fiscal 2025.\u00a0<\/p>\n Heintz said the board has a history of taking swift, strong action.\u00a0<\/p>\n<\/p>\n