Unwelcome Telephone Solicitations
The Florida Department of Agriculture and Consumer Services enforces Florida’s “No Sales Solicitation” law which is designed to protect Florida residents from unwelcome telephone solicitations. The cost for having a residential telephone number included on a “No Sales Solicitation” list is $10 per telephone number for the first year and $5 per telephone number for each year thereafter. Send your name, address, money and the telephone number(s) that you desire to have included on the “No Sales Solicitation” list to:
Stockbrokers/Investment Advisers Background Information
To request background information about your Stockbroker or Investment Adviser, send a written request for a Central Registration Depository (“CRD”) printout to the Florida Department of Financial Services, Office of Financial Regulation. Specifically, ask for a CRD printout that reflects the residence, educational background, exams taken, all states where the stockbroker or investment adviser has been registered to sell securities, employment and disciplinary history. The address and telephone number of the Florida Department of Financial Services, Office of Financial Regulation follows:
Florida Department of Financial Services, Office of Financial Regulation Broker Hot-Line (800) 848-3792
Most Investment Advisers are required to be registered with the Securities & Exchange (“SEC”) Commission and to submit background information to the SEC on a Form ADV. Consumers contemplating doing business with an Investment Adviser should request from the adviser a copy his or her most recent SEC Form ADV, Part II filing, the section of the filing which discloses any regulatory sanctions, criminal records and civil judgments.
Broker-Dealers Background Information
To request background information about a broker-dealer, send a written request for a CRD printout to:
Specifically, ask for a CRD printout that reflects the date of formation, the states where the firm is authorized to sell securities, the firm’s disciplinary history and the identities of its principals.
Broker-Dealers are required to file an annual financial report with the SEC that contains an income statement and balance sheet. This report is filed on SEC Form 17a-5 and will indicate whether the brokerage firm that you are doing business with or contemplating doing business with has substantial financial resources. These reports cost $25 plus delivery charges and can be ordered from Thomson Research Services at (800) 638-8241.
New Account Agreements
Florida Administrative Rule 3E-600.012(4) requires that broker-dealers provide to their customers copies of all agreements between the broker-dealer and the customer. In the event that you don’t have copies of all agreements between you and the broker-dealer, send a certified letter requesting this information and cite Florida Administrative Rule 3E-600.012(4) which states: "Each dealer and investment adviser shall provide each customer with a confirmed copy of all contracts or agreements between such dealer or investment adviser and such customer within a timely manner."
Stocks And Mutual Funds
To review annual reports and other disclosure documents filed by companies and mutual funds with the SEC, access the information in the EDGAR database located at the SEC’s internet website.
Insurance Agents Background Information
The Florida Department of Financial Services internet website http://www.fldfs.compermits users to obtain background information relating to individual insurance agents.
North American Securities Administrators Assoc., Inc.
The North American Securities Administrators Association (“NASAA”) is an international organization devoted to investor protection.
Investment Related Complaints
Contact the following offices of the Florida Department of Financial Services/Office of Financial Regulation and the Securities and Exchange Commission with investment related complaints.
Other Resources
Brochures, Pamphlets And Website Articles The SEC, FINRA, National Futures Association, Florida Department of Financial Services and the Florida Department of Agriculture and Consumer Affairs publish the following helpful brochures, pamphlets and website articles: