Since Arizona borders Colorado and I live in Colorado, I am more familiar with its securities laws and regulations and Arizona arbitrators. Because arbitrators are from the state or region where the investor resides, my familiarity with the arbitrator roster and individual arbitrators in Arizona and surrounding states is a significant benefit. And remember that I do not need to be licensed in the state of Arizona in order to represent Utah investors in securities arbitrations. I don’t even need to affiliate with local counsel. I also have the benefit of the knowledge of my husband Douglas Schulz ( Invest Securities Consulting ), who has been hired in over 1,140 securities related matters and testified in over 637 FINRA arbitrations and civil cases regarding investment and brokerage disputes. Because the majority of his expert work is also in Colorado and surrounding states, he too is very familiar with Arizona securities arbitrators and arbitrations.
Arizona is considered an investor friendly state, likely due to the high number of retirees that settle there. Arbitration awards from Arizona are often better than many other areas of the country.
Investors in Arizona are protected by legislative laws and statutes together with industry rules that prohibit brokers from engaging in fraud, unsuitable sales, churning, unauthorized trading, failure to supervise, breach of fiduciary duty, or negligence. Below are useful links and resources covering some of the investor protections available in the State of Arizona:
- Arizona Securities Division “The Securities Division strives to preserve the integrity of the financial marketplace through investigative actions as well as the registration and oversight of securities, securities dealers and salespersons, and investment advisers and their representatives…”
- Arizona Securities Act governs the registration, offer or sale of securities within or from Arizona.
- FINRA is an independent regulatory agency that regulates all broker-dealers in the United States.
- Securities and Exchange Commission (SEC) also creates and enforces the securities laws.
Realize though that investors are rarely compensated by state securities regulators as a result of an enforcement action. Compensation from the regulators happens usually when there are numerous victims and the losses are large. The best chance for investors to recover their losses is through initiating a securities arbitration with an experienced securities arbitration attorney, like myself.
Stoneman Law represents investors in all major Arizona cities including Phoenix, Tucson, Mesa, Chandler, Scottsdale, Glendale, Gilbert, Tempe, Peoria, and Surprise. Our consultations are free of charge and the firm is only compensated if you recover.Where Do FINRA Arbitrations Take Place in Arizona?
All arbitrations for Arizona residents take place in Phoenix.
And remember that arbitrations take place in the state where the investor resides, NOT where the brokerage firm or stockbroker office is located!!Arizona Securities News
December 17, 2017. Matt Neubert, director of the Arizona Corporation Commission's Securities Division, offered investors some red flags to beware of when being pitched for an investment idea:
- Making an investment on "inside information," especially if someone says not to share that news with regulators.
- Affinity sales. Don't invest just because you trust someone in your church or club or ethnic group.
- High-pressure sales. Don't invest until you run the opportunity by a trusted financial adviser or lawyer.
- Unrealistically high interest rates of return. When a certificate of deposit generates 1 or 2 percent, be careful when someone is offering interest rates of 12 to 20 percent.
- Lack of documentation. Ask for audited financial statements.
- "Personal guarantees." Stay away from any promising that investors cannot lose money, because often they do.
Before parting with their money, Neubert said, potential investors should contact the Corporation Commission's Securities Division to determine if the seller is a licensed securities salesperson or licensed investment adviser.
Investors can call 602-542-0662 to determine a person's educational and disciplinary history with the state Corporation Commission. Additional information can be found at azinvestor.gov.