Investor Complaints and Reporting | Arizona Corporation Commission

Securities Complaints and Reporting

Investor Complaints and Reporting

The Securities Division of the Arizona Corporation Commission is responsible for regulating the securities industry in the state of Arizona. One of our main functions is to oversee the firms and individuals that engage in the offer and sale of securities to the public. If you are a victim of securities or investment advisory fraud, please send us your complaint information.

• Investor Complaint Information

What the Securities Division can do

We will assign your complaint to an employee of the Securities Division for evaluation.
We may make inquiries and/or conduct an investigation if a violation of one of the Acts we enforce has occurred.
We may bring a regulatory action on behalf of the state of Arizona.
We may refer your complaint to other regulatory agencies.

What the Securities Division cannot do

The Securities Division cannot give you specific legal advice or refer you to a particular attorney or investment firm.
The Securities Division cannot directly recover money for you. You may wish to employ an attorney to assist you in the recovery of your investment.

How to File a Complaint

You can file a complaint with the Securities Division by submitting a Complaint Form online, by mail or e-mail. To file a complaint that involves the exploitation of a vulnerable adult, please use the Securities Division's Exploitation of a Vulnerable Adult Form found here.

By Mail. Send the completed form, together with copies of supporting documents relating to your investment, to:
Complaints-Securities Division
Arizona Corporation Commission
1300 W. Washington St., 3rd Fl.
Phoenix, AZ 85007
By E-mail. You may e-mail your completed form and supporting documents to the Securities Division at SecuritiesDiv@azcc.gov.

What should you say in your complaint?

The more information you provide, the more likely we will be able to promptly decide what we can do. The following information is critical to investigate the subject of your complaint:

Names, addresses, telephone numbers, and other identifying information for any person or entity you mention in your complaint.
Details of any transaction or activity you think violates the Arizona Securities or Investment Management Acts. Present the events in the order in which they happened, using dates whenever possible.
Copies of documents, listed above, relating to the transaction that is the subject of your complaint.
Signed declaration as to truth and accuracy of your complaint.

Settling a Dispute with a Securities Dealer or Salesman

Option 1: Resolve Disputes Directly with the Securities Dealer.
If you have a dispute with a securities dealer or securities professional, you can first try to resolve it with the securities dealer. If the person you are dealing with is not helpful, contact a supervisor in the firm or the firm's compliance department.

Option 2: Resolve Dispute through Arbitration or Mediation.
Review your customer account agreement to determine whether you have agreed to procedures regarding dispute resolution. Most customer account agreements require the investor to take any dispute to arbitration, and not directly to court. Learn more about the arbitration process by reading a brochure by the

NOTE: You are always entitled to file a complaint with the Securities Division, even if you go to arbitration.

Reporting Financial Exploitation

Only for financial professionals

Vulnerable Adult Complaints

Under A.R.S. § 46-471 et seq., if a qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted or is being attempted, the qualified individual may notify Adult Protective Services (“APS”) and the Arizona Corporation Commission, Securities Division (“Securities Division”).

This form is only intended for a qualified individual to report the financial exploitation of a vulnerable adult. A “qualified individual” means a broker-dealer, investment adviser or person who serves in a supervisory, compliance, legal or senior investor protection capacity for a broker-dealer or investment adviser.

• Reporting Financial Exploitation of a Vulnerable Adult

How to Report a Financial Exploitation of a Vulnerable Adult

You can report financial exploitation online by completing the Financial Exploitation Reporting Form:

f you are unable to complete the form online, please contact us by email at SEC-VA@azcc.gov or by telephone 602-542-0662 for assistance.

A copy of your online submission will be provided to APS. If you require additional assistance from APS, please contact them at 1-877-SOS-ADULT (1-877-767-2385) or online at www.des.gov.

Who Can Report?

Within two days after delaying a disbursement or transaction, a qualified individual will notify the Securities Division and APS. The Act provides immunity from administrative or civil liability to qualified individuals for taking actions permitted under the Act.

If you are not a qualified individual but would like to report an incident, please contact the Securities Division's Duty Officer by telephone at (602) 542-0662 or submit an investor complaint.

Who is Considered an Eligible or Vulnerable Adult?

An individual, who you suspect is being financially exploited, is defined as an “eligible adult” if they are sixty-five (65) years of age or older or is a vulnerable adult. Vulnerable adult means an individual who is eighteen years of age or older and who is unable to protect himself from abuse, neglect or exploitation by others because of a physical or mental impairment. (See A.R.S. § 46-451(9)). Vulnerable adult includes an incapacitated person as defined in A.R.S. § 14-5101.

How Long is the Delay?

Qualified Individuals may impose an initial delay of disbursements from an eligible adult’s account for up to 15 business days if financial exploitation is suspected. The Securities Division or APS can extend the delay for an additional 10 days or longer.

How Do I Provide Additional Information?

To report additional information or investigative reports, please submit the documents to SEC-VA@azcc.gov and reference the suspected victim’s name in the email to ensure a timely review. You may also respond and attach the documents to the verification email received at the time of your submission.