Last Updated: April 2024 (Austin, Texas)
Texas State Securities Board Consent Order With Roots Real Estate Investment Community I, LLC
In a Consent Order dated 4/30/2024, The Texas State Securities Board (TSSB) reprimanded Roots Real Estate Investment Community I, LLC, and assessed an administrative fine of $17,500 to resolve allegations that the company made sales to 266 residents of Texas from September 2022 through January 2024. Total sales were nearly $900,000 and were made while Roots Real Estate Investment Community was not registered with the Texas Securities Commissioner as a dealer.
These sales violated Sections 4004.051, 4007.105(a)(13)(A), and 4007.106 (a)(3) of the Texas Securities Act, according to the TSSB.
Roots Real Estate Investment Community
Roots Investment Community Fund is a company that originates, invests in and manages a diversified portfolio primarily consisting of investments in single family and multifamily residential real estate properties and development projects in the Atlanta, Georgia area.
The Texas State Securities Board
Mission of the TSSB, according to their website:
The State Securities Board is responsible for administering and enforcing the Texas Securities Act. The mission of the State Securities Board is to protect Texas investors. Consistent with that purpose, the Agency seeks to ensure a free and competitive securities market for Texas, increase investor confidence, and thereby encourage the formation of capital and the creation of new jobs in Texas.
The Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Rex Securities Law
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Rex Securities Law provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers. If you have suffered losses on investments recommended by FINRA registered brokers or broker dealers you may be able to recover damages through FINRA arbitration.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
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