Registering a Complaint
The Securities Division is authorized to initiate proceedings to prevent and detect violations of the South Carolina Uniform Securities Act (the Act). To accomplish this, the Securities Division has the ability to issue subpoenas, take testimony, and to require written statements. If after investigation a violation is found to have occurred, there are various administrative sanctions which the Securities Division may levy. These include, but are not limited to, the issuance of administrative orders to stop violations of the law, to deny, suspend, revoke or take possession of licenses, and to censure, suspend or bar individuals from participating in the securities industry. In appropriate cases, criminal referrals to the local solicitor or other state or federal law enforcement agencies may be made.
If you have information indicating that a firm or individual may have offered for sale or sold unregistered securities, acted as an unregistered securities dealer or agent, or engaged in any fraud in connection with the sale of securities, you may submit this information on a complaint form. This information may also be submitted by letter to the Securities Division. If writing a letter, please include the following information:
- Your name and address
- Your home and/or business telephone number(s)
- The name, addresses, and phone numbers of the parties complained of
- The dates and amounts involved in the transactions
- A summary of events pertaining to the transactions
Promptly notifying us may help you and also prevent other residents from losing their life’s savings. However, please note that the Securities Division does not have the authority to direct funds to be remitted to customers or to assert claims for monetary damages on behalf of individual investors. To determine your standing to sue, you may wish to consult with a private attorney.