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Karen Tyler

Commissioner
ND Securities Department
600 East Boulevard Avenue
State Capitol, 5th Floor
Bismarck, ND 58505-0510
Phone: (701)-328-2910
Toll Free: (800)-297-5124
Fax: (701)-328-2946
Email: ndsecurities@nd.gov
Grafton Office
701 W 6th Street, #312
Grafton, ND 58237
Phone: 701-352-4592

Enforcement & Investment Fraud

Investment Fraud
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Do you know the warning signs of fraud?  Have transactions occurred in your investment account that you are concerned about?  The following section will discuss the signs of investment fraud and other common violations of the North Dakota securities laws.

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Enforcement Actions
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The North Dakota Securities Department has taken numerous actions against individuals and firms that have violated the North Dakota securities laws. The actions are searchable by the individual’s name, business name, type of action, or year. 

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Complaint Reporting
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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 completing a complaint form.

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Fraud Alerts
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On March 7, 2013, an Amended Information identifying additional charges related to securities fraud and sale of unregistered securities were filed in Cass County against Robert H. Medhus.

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The North Dakota Securities Department (NDSD) is responsible for the enforcement of the North Dakota securities laws (N.D.C.C. 10-04) that protect citizens from dishonest investment practices, and regulate the people and companies offering investment opportunities.  The Securities Department takes investment fraud very seriously and works diligently to prevent it. We investigate hundreds of complaints every year, and have helped many North Dakotans recover money from fraudulent schemes. We also work with local, state, and federal law enforcement agencies to bring promoters of fraud to justice.

If someone provides you with the “Too Good to be True” investment opportunity, it usually is too good to be true, and that person may be trying to con you, or if you believe any part of a transaction is misrepresented, contact our Department to obtain information on filing a complaint.

Generally, all firms and individuals who sell securities as part of their business, or who charge fees for providing investment advice in the State of North Dakota must be registered with the North Dakota Securities Department.  Not every firm or individual is granted an automatic registration. If the Department determines a firm or individual does not have a good business reputation and has had considerable complaints, we will not register them in North Dakota.

People are encouraged to contact our Department to verify registration before doing business with firms, agents, or investment advisers. We can also provide information regarding disciplinary and registration history. Individuals may also check an agent’s registration on their own by accessing the Financial Industry Regulatory Authority’s BrokerCheck program with links located on this website.

For additional information on Investment Fraud, Reporting a Complaint, and Enforcement Actions click on the links above.

If you are a resident on the eastern side of North Dakota the Department has an investigator staffing a satellite office in Grand Forks for your convenience.  See the contact information listed below for the Bismarck and Grand Forks offices.

Related Items

Century Code

N.D.C.C. 10-04 - Securities Act

The North Dakota Securities Department administers and enforces the North Dakota Securities Act, N.D.C.C. Chapter 10-04, by registering securities; reviewing exemptions; issuing no-action letters and interpretive opinions; and licensing broker-dealers and their agents, and investment advisers and their representatives.  The Securities Department investigates complaints alleging violations of the Securities Act and rules and if violations are found, the Securities Commissioner may bring an administrative or civil action or make a referral for criminal prosecution.

Databases

Broker Check (FINRA)

Information on brokers is available from the Financial Industry Regulatory Authority’s (FINRA).

Publications

Investor Bill of Rights

When You Invest, You Have the Right to...

When Your Broker Calls, Take Notes!

A two-page form for investors to take notes when they talk with their broker. The form provides basic questions investors should ask their securities salesperson, checkoff boxes and ample space to take notes.

Forms

Complaint Form

If you believe you are a victim of securities fraud or have concerns about your investment account, you may file a complaint with the North Dakota Securities Department.  To file a complaint, complete the complaint form and submit by mail, fax or