Page 6 - 2013_2014 NASAA report

NASAA Member Activity | U.S.
NASAA Activity Report 13-14.indd
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Alabama Securities Commission
Te Commission is sensitive to the fnancial concerns and long-term fnancial security
of Alabama citizens, whether individuals or small businesses, and acts quickly and
decisively when misleading or illegal practices undermine their confdence in
fnancial markets. In 2013, the Commission registered 145,910 broker-dealers,
investment advisers and mutual funds to conduct business in the state; secured 15 felony
criminal convictions; issued 30 administrative orders with 81 respondents; returned
$29.3 million in restitution and rescissions to harmed investors; contributed more than
$11.3 million to the state General Fund; issued 20 public warnings; and reached nearly
4,400 Alabamians through 75 public investor education presentations. Currently, the
Commissions prosecution team has 27 individuals awaiting grand jury actions, arrest or
trial.
Alaska Division of Banking and Securities
Te Division sponsored a Fraud Summit in coordination with Alaska AARP and the
University of Alaska Center for Economic Development. Speakers included the Alaska
U.S. Attorney and representatives from the Division, the FBI, the SEC and the Alaska
Department of Law (Consumer Protection, Ofce of Elder Fraud and Assistance and
Ofce of Special Prosecutions, Medicaid Fraud Unit). Speakers described current fraud
trends in Alaska, including ways Alaskans can avoid fnancial fraud, and highlighted
how state, federal and local authorities work together to combat and prosecute fraud
in Alaska. Local media covered the event, interviewing several speakers and airing
stories about various topics discussed at the event. As a follow-up to the event, videos of
each speaker are in production to post to the Internet, giving Alaskans across the state
access to the information.
Arizona Securities Division
Te Division, within the Arizona Corporation Commission, strives to preserve the
integrity of the fnancial marketplace through investigative actions as well as the
registration and oversight of securities, securities dealers and salespersons, and investment
advisers and their representatives; to enhance legitimate capital formation and deter
fnancial fraud; and to minimize the burden and expense of regulatory compliance by
legitimate business. In 2013, for example, the commission entered an order that requires
the prior managers of Radical Bunny, LLC and Horizon Partners, LLC to pay more
than $189.8 million in restitution for committing securities fraud in connection with
two unregistered deed of trust investment programs.
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