FOR FILING A COMPLAINT WITH THE ALABAMA SECURITIES COMMISSION
The ASC is responsible for regulating the securities industry in the
State of Alabama. One of our
main functions is to oversee the firms and individuals that engage in the
offer and sale of securities to the public.
We also oversee the individuals and entities that provide
investment advice for compensation as defined within the Alabama
Securities Act. If you have a
complaint and/or information concerning possible violations of
the Alabama Securities Act, please contact the Commission.
SOME TIPS ON PREPARING A
- Present the events in the order in which they
happened, using dates whenever possible.
- Enclose copies of documents such as
written offering memoranda or other materials, cancelled checks (front
and back), purchase agreements, stock certificates, confirmation,
letters, advertisements, papers, notes or other documents that may
support your complaint. Keep
originals for your files.
- Remember that your complaint should describe the event
or practice which you believe was a possible violation.
- Please COMPLETE the
return it to our office. Our
ability to assist you will depend upon your giving us a complete and
detailed statement including any misrepresentations made to you.
||In order to access and print the complaint form you
must have Acrobat
Reader installed on your machine.
DELIVER YOUR COMPLAINT TO:
P.O. Box 304700
MONTGOMERY, AL. 36130-4700
Upon receipt, we will
assign your complaint to an investigator who will consider making an
inquiry into the situation. You
should be aware that evaluation of your complaint might take several
weeks. It is ASC's policy to conduct inquiries on a confidential basis. This
is done to protect the integrity of the investigation and to protect the
personal privacy of persons with respect to whom unfounded charges may be
The ASC does not have
authority to provide legal or financial advice to investors, or to
represent them in connection with their personal rights.
Any actions instituted by the Commission with respect to alleged or
purported violations are limited to remedial and enforcement actions
seeking to prevent further violations.
Thus, any action by the ASC would not necessarily result in
any monetary benefit to you. If
you have suffered monetary loss, you should consider contacting a private
attorney to discuss your legal rights and remedies under the Alabama
Securities Act or other statutes.
The United States
Securities and Exchange Commission (SEC) have approved certain arbitration
procedures for resolution of disputes between investors and
is a method of having a dispute between two or more parties resolved by an
impartial person who is knowledgeable in the areas of controversy.
That person is known as an arbitrator.
Disputes between an investor and a broker/dealer often involve
complicated issues that, in the interest of fairness, require a prompt and
inexpensive means of resolution. Because
of this, arbitration has long been used as an alternative to the courts.
Once the arbitrator has made a decision, the decision is final and
is subject to review by a court only on a very limited basis.
Also, if arbitration is chosen as a means of resolving a dispute,
the complaining party gives up the right to pursue the matter through the
If you are interested in
learning more about the arbitration process, you can contact the
Financial Industry Regulatory Authority (FINRA) or the Exchange that your
broker/dealer is a member. The
addresses for the New York Stock Exchange and the NASD are:
New York Stock
11 Wall Street
New York, New York 10005
Phone: (212) 623-2773
Southeast Regional Office
FINRA Dispute Resolution
Boca Center Tower 1
5200 Town Center circle
Boca Raton, FL 33486
Phone (561) 416-0277
Fax: (301) 527-4868
This document and the
form are also available by contacting the Alabama Securities
Commission at 1-800-222-1253 or (334) 242-2984.
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