Commission Sanctions Chandler Man and Denies License Application

The Commission ordered respondents Robert A. Ritter and RRIM Asset Strategies, LLC (RRIM) to pay $32,430 in restitution and a $10,000 administrative penalty for providing investment advisory services for compensation without being licensed. The Commission also denied their Arizona license applications due to multiple deficiencies that were not corrected. The Commission found that Mr. Ritter and RRIM transacted business in Arizona as an investment adviser representative and investment advisory firm, managing the investment accounts and portfolios of approximately 30 clients. The restitution amount represents the total commissions Mr. Ritter and RRIM received from their Arizona clients.

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-21215A-22-0303.