(a) In accordance with §2263.004, Texas Government Code, financial advisors and service providers that directly or indirectly receive more than $10,000 in compensation from the pension system during a state fiscal year and that provide financial services to the Executive Director, the state board, or individual members of the state board regarding the investment or management of the fund's assets shall comply with all applicable standards of conduct with which they are required to comply in accordance with federal or state law, rules, or regulations, relevant trade or professional associations, and the state board's investment policy.
(b) A financial advisor or service provider must agree to comply with these standards of conduct as a prerequisite to establishing and continuing any business relationship regarding the fund.
(c) The state board is authorized to terminate any business or contractual relationship with a financial advisor or service provider that the state board has determined to have failed to comply with an applicable standard of conduct.

Source Note: The provisions of this §310.4 adopted to be effective October 2, 2005, 30 TexReg 6063; amended to be effective August 31, 2014, 39 TexReg 6869; amended to be effective December 31, 2019, 44 TexReg 8335