Chandler Man Admits to Providing Investment Advisory Services without a License

The Commission ordered respondents David F. Evans of Chandler and Q Financial Design, LLC, to pay a $1,000 administrative penalty for providing investment advisory services for compensation without being licensed. The Commission found that, for more than 11 years, Q Financial Design and Mr. Evans had been licensed in Arizona as an investment adviser and investment adviser representative. However, despite multiple notifications by the Financial Industry Regulatory Authority, they failed to renew their licenses and pay the required fees for 2022. Mr. Evans and Q Financial Design continued to provide investment advisory services to eight clients and collected fees for these services without the required licensing.

All documents relating to this agenda item can be found in the Corporation Commission's online docket at edocket.azcc.gov and entering docket number S-21257A-23-0204.