Complaints
The Securities Division is charged with enforcing state laws that protect investors from unfair and abusive practices by those who are in the business of giving investment advice or selling investment products.
If you feel you have been defrauded, have been approached by someone offering a questionable investment, or are dissatisfied with services offered by a broker, investment adviser or other financial professional, fill out and submit the form above. The Securities Division will open a preliminary investigation based on the information you provide. All information remains confidential and neither the content nor the source of the complaint will be available for public inspection unless the Division institutes formal proceedings in the case.
You should be aware that the Division cannot promise to obtain a return of your funds, nor can the Division act as your attorney in this matter.
The Division enforces the New Mexico Securities Act of 1986 on behalf of the State of New Mexico. This law provides important legal rights and remedies for individual investors, but in order to preserve these rights and remedies, you should consult with legal counsel to determine whether it is advisable for you to start your own legal action. However, if the Division is able to take action against the target of your complaint, we will attempt to seek resolution of the issues raised in your complaint.
You should also consider pursuing other avenues as the Division considers your complaint. For instance, if your securities account agreement contains a binding arbitration clause, you may want to consider resolving your complaint through arbitration. In that case, you should contact the National Association of Securities Dealers (NASD) located at Republic Plaza Bldg., 370 17th Street, Suite 2900, Denver, Colorado 80202-5629, phone (303) 446-3100.
In addition, you may also wish to make your complaint in writing to the Federal Government’s U.S. Securities and Exchange Commission, located at 1801 California Street, Suite 4800, Denver, Colorado 80202, phone (303) 844-1000.
Finally, you may wish to consider retaining legal counsel to inform you of the various options available to you in resolving your complaint.
In order to preserve your ability to take legal action or submit to arbitration, you must start such proceedings within a certain time period. The New Mexico Securities Act of 1986, for example, requires that you must file your action within two years from the date you discovered, or should have discovered, a violation; however, in no case may the action be started more than five years after the date of the violation which is the basis of your complaint.
If you have signed an agreement with your investment professional that provides for the resolution of complaints through arbitration, the arbitration agreement may provide that a different limitation period applies. It is sometimes difficult to determine the exact date of the violation which triggers the running of the time limits. You may wish to consult a securities attorney to advise you on how to make such a determination.
For more information contact:
New Mexico Securities Division
2550 Cerrillos Road
Santa Fe, NM 87505
(505)476-4580
(800) 704-5533 Toll Free in New Mexico
