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An experienced insurance agent lost his license because he sold something he knew nothing about. Insurance agents and brokers should limit themselves to that which they know: insurance. When they deal in securities without a securities license, agents may find themselves in hot water with the department of insurance and may even face criminal prosecution. In Mark Griffin Meyer, Appellant v. Texas Dept. of Insurance, No. 03-10-00642-CV (Tex.App. Dist. 3 11/23/2011), an agent lost his license because he sold securities mislabeled 9-month loans and short-term leases, all because he fell for a sales pitch, lied to his clients and made promises he could not fulfill. The Texas Dept. of Insurance (TDI) took his license and he appealed the decision.


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