Bobby Wayne Coburn declined to appear at hearing looking into allegations.
The agency has taken a more pro-regulatory tone than many expected
Cites trade wars and political uncertainty as main reasons for downgrade.
Escalation of the trade war heightens concerns about the already shaky economic outlook.
South Texas Money Management has 60 employees and offices throughout Texas.
The jump is a welcome shift for Wall Street underwriters and mutual-funds that have cash they need to invest.
The mishap raises new questions about how ETF managers monitor the indexes that underlie their portfolios.
Employee savings rate also hit a record in Q2 at 8.8%
Combined RIA firm will have nearly $1 billion in discretionary assets.
James L. Beyersdorf also will disgorge $232,000 and pay $189,000 in fines.
