Texas Stock Exchange Proposes Quick Fines for Minor Slip-Ups
Published Date: 5/4/2026
Notice
Summary
The Texas Stock Exchange (TXSE) wants to make handling small rule-breaking easier and faster by setting fines up to $2,500 without lengthy reports. Instead of reporting every tiny slip right away, TXSE will update the SEC every three months. This change helps traders and the Exchange save time while keeping things fair and clear.
Free Policy Watch
New rules are filed every week. Most people never see them.
Pick a topic. PRIA watches every federal rule and tells you when one hits your household.
Pick a topic to get started
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Fines up to $2,500 with Quarterly Reporting
The Texas Stock Exchange proposes a Minor Rule Violation Plan allowing the Exchange to impose fines up to $2,500 for designated minor rule violations on Members, associated persons, or their employees. Instead of promptly reporting each final disciplinary action to the SEC, the Exchange would provide a quarterly report to the SEC covering actions taken under the MRVP; the Commission may declare the plan effective after May 22, 2026.
Specific Rules Designated As Minor Violations
The Exchange seeks to designate specific rule violations (for example, TXSE Rules 4.002; 11.009(a)(5); 11.009(f); 3.005; 12.011 Interpretation .01 and Exchange Act Rule 604; 11.018(a)(1); and TXSE Rules 4.005–4.015) as eligible for disposition under the MRVP, meaning such violations could be handled by fines rather than full disciplinary proceedings.
Paying Fine Waives Hearing Rights
Under the plan, if a person pays a fine imposed under TXSE Rule 8.015, that payment is considered a waiver of the person's right to a disciplinary proceeding or review. A person may instead contest the finding by filing a written response with the Exchange no later than the contest date, which must be at least 15 business days after service of the written statement.
Exchange May Aggregate Similar Violations
The Exchange may aggregate similar minor violations when the conduct was unintentional, there was no injury to public investors, or the violations resulted from a single systemic problem that has been corrected. Aggregation could affect the number or size of fines imposed under the MRVP.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Take the PRIA Score to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in