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Under A.R.S. § 46-471 et seq., if a qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted or is being attempted, the qualified individual may notify Adult Protective Services (“APS”) and the Arizona Corporation Commission, Securities Division (“Securities Division”).
How to Report a Financial Exploitation of a Vulnerable Adult
You can report financial exploitation online by completing the Financial Exploitation Reporting Form:
If you are unable to complete the form online, please contact us by email at SEC-VA@azcc.gov or by telephone 602-542-0662 for assistance.
A copy of your online submission will be provided to APS. If you require additional assistance from APS, please contact them at 1-877-SOS-ADULT (1-877-767-2385) or online at www.des.gov.
Who Can Report?
This form is only intended for a qualified individual to report the financial exploitation of a vulnerable adult. A “qualified individual” means a broker-dealer, investment adviser or person who serves in a supervisory, compliance, legal or senior investor protection capacity for a broker-dealer or investment adviser.
Within two days after delaying a disbursement or transaction, a qualified individual will notify the Securities Division and APS. The Act provides immunity from administrative or civil liability to qualified individuals for taking actions permitted under the Act.
If you are not a
qualified individual but would like to report an incident, please contact the
Securities Division's Duty Officer by telephone at (602) 542-0662 or submit an investor complaint.
Who is Considered an Eligible or Vulnerable Adult?
An individual, who you suspect is being financially exploited, is defined as an “eligible adult” if they are sixty-five (65) years of age or older or is a vulnerable adult. Vulnerable adult means an individual who is eighteen years of age or older and who is unable to protect himself from abuse, neglect or exploitation by others because of a physical or mental impairment. (See A.R.S. § 46-451(9)). Vulnerable adult includes an incapacitated person as defined in A.R.S. § 14-5101.
How Long is the Delay?
Qualified Individuals may impose an initial delay of disbursements from an eligible adult’s account for up to 15 business days if financial exploitation is suspected. The Securities Division or APS can extend the delay for an additional 10 days or longer.
How Do I Provide Additional Information?
To report additional information or investigative reports, please submit the documents to SEC-VA@azcc.gov and reference the suspected victim’s name in the email to ensure a timely review. You may also respond and attach the documents to the verification email received at the time of your submission.
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