The Police NewsAustin, Texas
Katy Securities Agent Fined for Disclosure Failures
Texas Securities Commissioner Travis J. Iles entered a Disciplinary Order Nov. 21 that levied a $3,000 fine on Octavio Tovar, a securities agent in Katy, for not disclosing compromises with creditors and civil judgments against him.
The order also reprimanded Tovar and granted his registration as an agent of Mid Atlantic Capital Corp.
The application for securities industry registration requires an individual to disclose compromises with creditors and unsatisfied judgments or liens.Tovar did not disclose in a timely manner three compromises with creditors reached in 2015 and 2016. He also did not disclose two civil judgments entered against him in 2015 and 2016.