, 9 tweets, 5 min read Read on Twitter
1/ NEW: Sen. Angela Paxton has filed a bill that would give Texas Attorney General Ken Paxton — her husband — more regulatory power.

Including regulatory power related to state securities law.

Which Ken Paxton is accused of violating. #txlege bit.ly/2Eea4AU
2/ The bill would grant broad powers to the AG’s consumer protection division, allowing it to accept or reject entrepreneurial applicants who seek to hawk innovative products outside of the state’s current standards and regulations. #txlege bit.ly/2BDZGAB
3/ So, Ken Paxton, a statewide official accused of violating state securities law, would be empowered to decide who can skirt state securities law.

And he’d get that power from a bill authored by his wife

#txlege bit.ly/2BDZGAB
4/ Angela Paxton’s office said the bill is geared toward upping consumer protections in the under-regulated, ever-changing financial tech industry.

Constituents from her district first brought the issue to her attention, her office said. #txlege bit.ly/2BDZGAB
5/ The proposal does not appear to offer any retroactive legal cover for past violations and it’s not clear whether it would directly impact Ken Paxton’s pending criminal case. #txlege bit.ly/2BDZGAB
6/ But ethics experts were shocked.

“It sounds like one of the more blatantly unethical acts I’ve seen recently. That’s just ridiculous,” said one longtime ethics lawyer in Austin. He said it would “almost certainly” influence Ken Paxton’s trial.

bit.ly/2BDZGAB
7/ A securities expert at the University of Texas Law School said the law would open a “fairly aggressive exception” in state securities regulations. #txlege bit.ly/2BDZGAB
8/8 Ken Paxton’s office did not return requests for comment. #txlege bit.ly/2BDZGAB
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