Paxton Violated Securities Law, Gets Reprimand

*Editor's note: This story has been updated throughout

State Sen. Ken Paxton, a Republican candidate for Texas attorney general, violated the Texas Securities Act by soliciting investment clients without being registered as required by law, according to a disciplinary order made public Friday. 

Under the order from the Texas State Securities Board, Paxton was “reprimanded” and fined $1,000. He is also required from now on to disclose in writing his paid solicitor relationship to any clients he refers to an investment adviser. 

In at least one instance investigated by The Texas Tribune, a legal client Paxton solicited on ...

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