Established pursuant to Article 15 of the Arizona Constitution, the Arizona Corporation Commission serves the public in multiple ways. This entity enables incorporation of businesses and organizations, regulates securities and performs other duties in public interest.
The Arizona Corporation Commission regulates the securities marketplace in Arizona by:
- Conducting investigations
- Registering and overseeing:
- Securities dealers and brokers
- Investment advisors and representatives
- Reviewing prospective offerings of securities
- Ensuring full and fair disclosure to investors
- Ensuring offerings are not fraudulent
- Overseeing securities trading
The Arizona Corporation Commission also:
- Regulates filing of Arizona businesses’ articles of incorporation
- Provides oversight and regulation of all limited liability articles of organization
- Regulates foreign corporations conducting business in Arizona
- Investigates corporations to determine lawful purpose
- Revokes corporate charters of noncompliant corporations
Sentencing and Penalties Regarding of Arizona Corporation Commission Crimes
If the Arizona Corporation Commission has charged you with a violation, you face the possibility of severe penalties and even imprisonment. Penalties may include fines, restitution, rescission of securities and other ramifications, if found guilty as charged. Penalties can vary widely according to your specific alleged violation and details of your case. Because laws in this arena are so complex, it is important to engage quality, experienced representation as soon as you are aware of your investigation by the Arizona Corporation Commission.
Some penalties provided for under Arizona Revised Statute ARS 44-2032 include:
- Restitution for securities laws violation
- Cash at the fair market value with interest
- Rescission requirements for the violator’s repurchase of securities
- Seizure of assets if restitution or rescission is not possible
- $20,000 civil penalty per violation
- Court costs and attorneys’ fees
- Temporary restraining order issuance
- Preliminary injunction
- Order injunction
- Permanent injunction
- Right for individual investors to bring civil suits against the violator
- Civil penalties of as much as $5000 per violation
- Criminal class 4 felony charges which include:
- Imprisonment for a minimum of 1.5 years, up to 3.75 years
- $150,000 maximum fine
If the charges are a misdemeanor violation, the penalties may include $2500 with six months in jail.
Are You Accused of Violations by the Arizona Corporation Commission?
If you have been accused of violations by the Arizona Corporation Commission or are undergoing a current investigation, you need the help of the proactive ACC Violations attorneys of DM Cantor. The earlier in your case that you gain representation by an aggressive attorney, the better your chances of escaping the harsh penalties of ACC violations in Arizona.
If your case is in the stage of open investigation, or if you have been arrested for an alleged crime, contact us for the defense you need. There have been many cases in Arizona as the result of unjustifiable criminal accusations. You may be suffering the same type of unjustified allegations. The lawyers of DM Cantor are aggressive and thorough in their defense of clients accused of White Collar Crimes such as violations alleged by the Arizona Corporation Commission.
With the highest possible rating by Martindale Hubbell®, and as an AV ® rated law firm, DM Cantor has the legal skill you need on your side. The firm is also listed in the Criminal Law Section of the Bar Register of Preeminent Lawyers®. Call DM Cantor at 602-307-0808 or Contact Us for a Free Case Consultation.