What steps should I take if I believe I am victim of securities fraud or questionable transactions have occurred in my account? The following information will assist you in completing a complaint form.
The North Dakota Securities Department is responsible for the investigation of complaints concerning violations of the North Dakota securities laws. Upon receipt of your complaint by the Department a case number will be assigned and you will be contacted acknowledging the complaint.
If you have a complaint that involves your current registered broker-dealer, securities agent, investment adviser or investment adviser representative it is recommended that you submit a written complaint with the broker-dealer or investment adviser firm which handles your account in addition to the complaint you provide to our Department. Your complaint letter to the firm or agent should include information on the problem you have experienced, how you have tried to resolve it, and what you would like to obtain in terms of a settlement, adjustment, or other resolution. Such letters should be addressed to the branch office manager, if there is one, or to the firm’s home office located on account statements. You can then send a copy of that correspondence to the North Dakota Securities Department with your complaint filing to us.
If, however, you believe your complaint involves potential fraudulent securities activity it is recommended that you contact the Department immediately for assistance in filing a complaint. This fraudulent securities activity may include, but is not limited to the following examples:
- Unregistered Securities
- Unregistered Firms and/or Individuals
- High Yield Investment Schemes
- Ponzi Schemes
- High Pressure Sales
There may be circumstances in which your inquiry or complaint is outside our jurisdiction or may be better handled by another regulatory agency. If we determine during our investigation that your complaint does fall outside our jurisdiction or can be better handled by another regulatory agency, we will forward it on your behalf and inform you of our having done so. There also may be times that the results of the investigation determined that there is nothing that can be done (for example, if the problem is simply that your investment lost money or earned less than you expected because of market forces), we will inform you of this conclusion.
Upon completion of an investigation, if it is determined that a possible violation exists, we will advise you of the findings and any proposed action that the Department will take.
Filing a Complaint
- Gather any supporting documentation you believe will help in completing your complaint.
- Complete the complaint form with as much detail as possible. Attach additional sheets if necessary.
- The more information you provided to us, the better we will be able to investigate.
- Please provide your date of birth in the appropriate box. This information is important in our investigation and may determine what violations can be referenced.
- Remember to sign and date the complaint form.
- Include copies of any supporting documents that you believe will assist us in our investigation.
In certain cases such as where a complaint involves a registrant, the Department may ask the entity and/or person you have a complaint about to respond to the staff or may make other inquiries concerning your complaint. If you have questions, or require assistance in completing the complaint form, please contact one of the Department staff listed at the bottom of the page.
Once you have completed the complaint form and made copies of any supporting documents, the original complaint form and copies of the supporting documents can be mailed or faxed to the Department at the address or fax number provided below. If you have access to email you may choose to e-mail your completed complaint form and scanned copies of any supporting documents to the Department at firstname.lastname@example.org. However, do not email documents containing confidential personal information such as your social security number unless you have access to a secure, encrypted email service.
Upon receipt of your complaint by the Department, your complaint will be assigned to an investigator, provided a case number, and you will be contacted acknowledging receipt of your complaint.