New Hampshire
Secretary of State

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Enforcement Actions

File a Complaint

Filing a complaint with the Bureau:

The Bureau staff receives numerous complaints each year from concerned investors. Many of these complaints lead to thorough investigations of the individuals or entities involved. Investigations sometimes lead to enforcement actions by the Bureau to holt or remedy violations of the New Hampshire Securities Act. While the investing public is the single best source of information regarding questionable business practices, as an administrative agency, the Bureau has limited authority. To fully appreciate the Bureau's role, please carefully read the instructions that accompany the complaint form.

Filing a complaint with the Securities and Exchange Commission (SEC):

Filing a complaint with the Financial Industry Regulatory Authority (FINRA):

FINRA Investor Complaint Center

Press Releases

07/02/2024 New Hampshire Secretary of State Orders N.H. Risk Pool to Cease and Desist Alleged Unlawful Practices

04/25/2024 Bureau of Securities Regulation Reaches Nearly 6 Million Dollar Settlement Against Former Financial Adviser Thomas Chadwick
02/21/2023 Bureau of Securities Reaches over 1 Million Dollar Settlement and Bars NH Agent
11/16/2023 Bureau of Securities Regulation Files Joint Action Against Alleged Global Fraud Scheme
10/10/2023 New Hampshire Secretary of State's Securities Bureau Suspends New London Advisory Firm
9/5/2023 New Hampshire’s Insurance Department and Secretary of State Reach Settlement with Northwestern Mutual

8/7/2023 NH Secretary of State Joins Multi-State Enforcement Effort Against Lear Capital

7/27/2023 N.H. Secretary of State’s Securities Bureau Files Order for Relief Against Former Investment Adviser

6/14/2023 NH Secretary Recognizes World Elder Abuse Awareness Day

5/3/2023 New Hampshire Secretary of State’s Bureau of Securities Regulation Reaches Settlement with Merrill Lynch

4/29/2022 NH Bureau of Securities Files Action to Stop Fraudulent and Unlicensed Activity of Former New London-based Investment Advisor

3/4/2022 NH Bureau Of Securities Reaches Settlement With Manchester-based Alumni Ventures Group

12/20/2021 NH Bureau of Securities Settles With Ragingbull; NH Residents and Others to Receive Refunds

12/8/2020 N.H. Bureau of Securities Regulation Alleges Fraud Against RAGINGBULL.COM an Internet Stock Picking Service

12/7/2020 NH Bureau of Securities Reaches Record Settlement With Merrill Lynch

8/4/2020 Bureau Settles With LPL Financial

1/6/2020 Bureau of Securities Issues Advisory to Raise Awareness of Bond Ratings

12/17/2019 Bureau Alleges Securities Fraud By Daniel Olivier Of Lancaster NH

10/9/2019 Bureau Alleges NH Financial Advisor Invests Client Money In Fraudulent African Charity

8/7/2019 Bureau Of Securities Announces New Law To Combat Financial Exploitation Of Vulnerable Adults

6/3/2019 NH Securities Bureau Files Action Concerning $40-Plus Million Nationwide Offering

6/3/2019 NH Securities Bureau Initiates an Administrative Enforcement Action Against Lewis Niles

12/3/2018 NH Securities Bureau Issues Cease and Desist Order Against James A. Valentine

11/29/2018 NH Securities Bureau Settles with Morgan Stanley for $983,284.96

11/15/2018 NH Securities Bureau Issues Cease and Desist Order Against Sean C. Grady

10/30/2018 NH Securities Bureau Finds Owner/Operator of Liquid Planet Water Park Violated NH Securities Laws

10/15/2018 NH Securities Bureau Reaches Settlement with Firm Engaged in Brokering Notes

10/2/2018 N.H. Securities Bureau Files Fraud Action Against Promoter of Tiny Homes

9/11/2018 Lydea Irwin, Young Professional Of The Month

6/15/2018 N.H. Securities Bureau Warns Of Romance Scams

10/24/2017 NH Securities Bureau Reaches $400,000 Settlement With Ceros Financial Services, Inc.

5/16/2017 N.H. Securities Bureau Files Enforcement Action Against York, Maine Man

5/3/2017 LPL Financial To Offer Over $8,000,000 In Remediation To NH Investors Under Bureau Consent Order

4/7/2017 N.H. Securities Bureau Files Fraud Action Against Salem Man

12/06/2016 NH Securities Bureau Resolves Matter with Federal Investment Adviser for $2.9 Million

9/30/2016 NH Securities Bureau Finds Securities Fraud Committed by Robert J. Raffa

2/18/2016 NH Securities Bureau Permanently Bars David F. Brochu and Takes Action to Recover Investor Funds

2/1/2016 NH Securities Bureau Bars Broker For Unlawful Telemarketing And Misleading Investigators

12/15/2015 NH Securities Bureau Settles Action Against LPL Financial Over Non-Traded REITS for $750,000

12/10/2015 NH Securities Bureau Initiates Proceedings To Bar Unlicensed Advisery Activity

4/28/2015 NH Securities Bureau Obtains Temporary Restraining Order Against The Used Apple Store and Its Owner Bill Williams

4/27/2015 NH Securities Bureau Shines Light On Broker-Dealer Fees

4/23/2015 NH Securities Bureau Files Action Against the Used Apple Store in Derry, NH and Its Owner Bill Williams

4/6/2015 NH Securities Bureau Files Action Against LPL Financial Over Unlawful Sales of Alternative Investments

3/10/2015 NH Securities Bureau Files Action Against Interinvest Corp, Inc., Hans Peter Black, and Alex Richard Black

1/14/2015 NH Securities Bureau Enters Findings Against St. John International University, Inc.

1/8/2015 NH Bureau of Securities Regulation and the NH Banking Department Settle Case Against Upper Valley Commercial Corporation, David Patten, and Alvin Fadden for $500,000 in Fines, Plus Other Sanctions

1/7/2015 NH Securities Bureau Settles Seventh Telemarketing Matter

12/30/2014 NH Securities Bureau Settles Telemarketing Investigation of Merrill Lynch for $400,000

12/15/2014 NH Securities Bureau Announces Launch of Streamlined Electronic Filing Depository

9/22/2014 NH Securities Bureau Initiates License Suspension Action Against Kleossum, Inc. and David F. Brochu

9/11/2014 NH Bureau Of Securities Offers Investor Education Program Addressing Women’s Financial Educational Needs

9/4/2014 BSR Takes Fraud Action Against Former Financial Adviser

8/27/2014 BSR Settles Action with National Broker-Dealer over Alternative Investments and Telemarketing

8/21/2014 Jaffrey Residents To Pay $600,000 In Disgorgement To Settle NH Securities Bureau's Fraud Claims

5/22/2014 NH Bureau of Securities Takes Action Against Jaffrey Residents for Fraud and Licensing Violations

5/15/2014 NH Securities Bureau Issues Order Against Rindge Resident for Fraud and Licensing Violations

5/12/2014 NEXT Financial and Nashua Broker To Pay $140,000 Settlement To NH Securities Bureau

4/3/2014 NH Bureau of Securities Offers New Investor Education Program Addressing Women’s Financial Educational Needs

3/31/2014 J.P. Morgan To Pay Over $2.9 Million in Settlement With Securities Regulators

2/26/2014 NH Securities Bureau Settles Action Over Do-Not-Call Violations For $750,000

1/24/2014 Bureau Of Securities Issues Investor Alert Regarding Securities Sales By California Firms

12/31/2013 NH Bureau of Securities Regulation and the NH Banking Department Take Action Against Upper Valley Commercial Corporation, David Patten, and Alvin Fadden

12/4/2013 NH Bureau of Securities Regulation: Beware of Pyramid Schemes Posing as Multi-Level Marketing Programs

10/23/2013 UBS Fined and Censured for Violations of Securities Laws; Ordered to Pay Over $80,000

10/17/2013 Manchester Resident Ordered to Pay $100,000 Restitution to Defrauded Investors

5/29/2013 Bureau of Securities Orders Dover's Nickolas Skaltsis To Pay Restitution and Fines

4/11/2013 N.H. Securities Bureau Initiates Action to Curtail Telemarketing Abuses

3/25/2013 Bureau of Securities Warns Public of Internet Investment Scheme

3/11/2013 Bureau of Securities Bars Bedford Investment Adviser

1/24/2013 N.H. Bureau of Securities Regulation Takes Action Against Nickolas Skaltsis for Dover Ponzi Scheme

12/3/2012 N.H. Bureau of Securities Regulation Warns of Threat of Fraud to Elderly and Other Victims

9/10/2012 Manchester Man Found to Have Committed Securities Fraud, Ordered to Return $237,000 to Victims

8/30/2012 N.H. Securities Bureau Takes Action Against Nicholas Rowe and Focus Capital Wealth Managment, Inc.

6/28/2012 N.H. Securities Bureau Takes Action to Stop Improper Solicitations

5/4/2012 N.H. Securities Bureau Announces "Con Artist" Investor Education Program

4/25/2012 Schoolcare Agrees to Return $8.5 Million to Members

3/26/2012 Primex Agrees to Return Minimum of $16 Million to Members

3/16/2012 Keene Securities Broker's License Revoked Based on Allegation of Elder Exploitation

2/1/2012 Oppenheimer to Pay $155,000 for Illegal Sale of Penny Stocks at Portsmouth Office

1/9/2012 Securities Firm Sanctioned for Unsolicited Calls to NH Investors

10/20/2011 Former Portsmouth Securities Broker Barred from Future Activity in New Hampshire

10/19/2011 N.H. Securities Bureau and Insurance Department Take Action Against Metlife Agent

10/4/2011 Bedford Firm Target of Secrurities Bureau Action

8/23/2011 UBS to pay $1 Million Under Consent Order With N.H. Securities Bureau Based on Sale of Lehman Investments

6/14/2011 Investigation of Pooled Risk Management Programs

6/9/2011 N.H. Securities Bureau: Initiates Action Against Oppenheimer and Co.

5/20/2011 N.H. Securities Bureau: Information on LGC Investigation Important to Public

5/11/2011 N.H. Securities Bureau Says LGC Should Return Millions to Cities and Towns

12/30/2010 N.H. Securities Bureau Issues Recommendations on Appropriate Reserve for Pooled Risk Programs

11/19/2010 Bureau of Securities Issues Statement Of Policy Regarding Promissory Notes

11/15/2010 N.H. Securities Bureau Identifies Top Ten Investor Traps

10/28/2010 N.H. Bureau of Securities Regulation Issues Report On Investigation of Local Government Center

10/26/2010 N.H. Bureau of Securities Regulation Urges Caution for Investors Mining for Golden Opportunities

10/5/2010 N.H. Securities Signs Consent Order with UBS

4/22/2010 Report of the Bureau of Securities Regulation's Review of Financial Resources Mortgage, Inc. and Related Matters

4/15/2010 N.H. Securities Bureau Issues Consent Order on UBS and State Student Loan Program

8/18/2009 Top 10 Investor Traps

8/17/2009 Investment Settlements Offer Relief to New Hampshire Investors

6/11/2009 State and Federal Regulators to Rein in Risk

6/3/2009 N.H. Securites Regulators File Action Targeting UBS Sales Practices

5/14/2009 New Investor Education for Unemployed Citizens

12/29/2008 Fraudsters Target Sandwich Generation Investors

11/3/2008 New Hampshire Announces IARD System Fee Waiver

10/14/2008 New Hampshire and AARP Team to Offer "Free Lunch Seminar Monitor" Program

9/9/2008 Bureau of Securities Regulation Resolves Amends Filing Against UBS, Alleges UBS Violated Fiduciary Duty

8/14/2008 N.H. Securities Bureau Takes Action Against UBS

7/7/2008 New Hampshire Gov. Lynch Signs Senior Investor Protection Legislation Into Law

6/17/2008 N.H. Securities Regulators Identifies Traps Likely to Burn Investors This Summer

5/12/2008 N.H. Securiities Regulation Launches Program To Help Law Enforcement Investigate Investment Fraud

5/7/2008 State and Federal Regulators and AARP NH Caution Seniors About Investor Fraud

4/22/2008 Securities and Exchange Commissioner Casey to Deliver Keynote Address At Senior Fraud Seminar

4/9/2008 Ameriprise Settles Securities Violations with State

4/3/2008 State Securities Regulators Slams Federal Report

4/2/2008 N.H. Bureau of Securities Regulation, SEC and AARP NH Bring Senior Fraud Seminar to the Seacoast

11/8/2007 N.H. Securities Bureau and U.S. Commodity Futures Trading Commission Partner in Fraud Case Federal Court Imposes over $20 Million in Fines

10/22/2007 N.H. Securities Bureau Takes Second Enforcement Action Against Ameriprise Financial

8/30/2007 N.H. Securities Regulators Identify Top 10 Traps Facing Investors in 2007

4/24/2007 N.H. Bureau of Securities Regulation, SEC and AARP Bring Senior Fraud Seminar to North Country

1/8/2007 National Securities Regulators Present Annual Award To New Hampshire Director

11/1/2006 Three Former U.S. Ambassadors To Take Part In Unusual Panel On Corporate Responsibility

10/24/2006 SEC, N.H. Bureau of Securities Regulation and AARP to Present Elder Fraud Seminar

10/10/2006 N.H. Securities Bureau Resolves Action Against ING

6/9/2006 N.H. Securities Bureau Files Action Against ING

5/3/2006 Myron Kandel To Moderate Panel On Future of Business in New Hampshire

3/15/2006 University of New Hampshire Hosts Corporate Responsibility Initiative's Kick-Off Event

12/14/2005 Myron Kandel, Founding Financial Editor of CNN, to Lead NH Initiative On Corporate Governance

12/12/2005 Regulators Urge Investors To Carefully check Credentials of "Senior Specialists"

7/12/2005 American Express Financial Advisors Reach Settlement with New Hampshire Bureau of Securities Regulation

6/16/2005 Federal Commodity Regulator and State of New Hampshire Bring Sales Fraud Claims Against Florida Trading Firm Cromwell Financial Services, Inc. and Others

4/7/2005 N.H. Securities Bureau Reaches Settlement With Morgan Stanley for $435,000.00

3/25/2005 N.H. Dept. of Securities Regulation Names Top Ten Threats to Investors

2/18/2005 N.H. Securities Bureau Takes Action Against American Express Financial Advisors

1/26/2005 N.H. Securities Bureau Suspends Florida Company's License

12/16/2004 Securities Exchange Commission and NH Securities Regulators Announce Settlement With Pennichuck Corporation

9/30/2004 N.H. Securities Regulators Warn Investors of Ongoing Voice Message "Wrong Number" Scam

8/26/2004 New Hampshire to Receive $337,500 in Settlement Wtih Deutsche Bank Securities and Thomas Weisel Partners

8/25/2004 N.H. Securities Bureau Requests Clarification From Google

6/23/2004 N.H. Securities Bureau Takes Action Against Morgan Stanley

2/5/2004 N.H. Securities Regulators Join SEC and New York Attorney General's Office in $225 Million Settlement with Massachusetts Financial Services

11/5/2003 Unsuitable Investments Cited in Settlement with Florida Brokerage Firm

9/10/2003 Center For Public Responsibility And Corporate Citizenship Established As a Result of Tyco Settlement

9/5/2003 N.H. Securities Regulators Warn Seniors to be on the Lookout for Investment Fraud

7/15/2003 N.H. Securities Regulators Oppose Effort By Congressional Panel to Limit State's Authority to Deter Fraud

4/28/2003 N.H. to Receive $4 Million in Wall Street Settlement

3/13/2003 State Securities Regulators Warn Investors of Oil and Gas Schemes

8/7/2002 N.H. Securities Bureau Broadens Its Investigation of Tyco International

7/18/2002 State Reaches Record Securities Settlement with Merrill Lynch Regarding Broker Activity

Contact

Atty Barry J. Glennon
Director

Atty Jeffrey . Spill
Assistant Director

Send Mail to:
Bureau of Securities Regulation
N.H. Department of State
107 North Main Street #204
Concord, NH 03301-4989

Send Overnight Mail to:
Bureau of Securities Regulation
Department of State
107 North Main Street #204
Concord, NH 03301-4989

Come Visit Us:
Monday through Friday, 8:00am - 4:30pm
Bureau of Securities Regulation
State House Annex, 3rd Floor
25 Capitol Street, Suite 317A
Concord, NH 03301

Telephone Numbers:
603-271-1463
603-271-7933 (fax)

Investor Hotline: 1-800-994-4200

Bureau of Securities Regulation Email Address: securities@sos.nh.gov

Disclaimers

PLEASE BE ADVISED, THE PURPOSE OF THIS WEB SITE IS TO PROVIDE ANSWERS, IN A USER-FRIENDLY FORMAT, TO SOME OF THE QUESTIONS COMMONLY POSED TO THE BUREAU STAFF. IT SHOULD NOT BE ASSUMED THAT THE INFORMATION CONTAINED HEREIN IS COMPREHENSIVE. FOR A COMPLETE LIST OF NEW HAMPSHIRE SECURITIES LAWS AND REGULATIONS, PLEASE REFER TO NH RSA 421-B (UNIFORM SECURITIES ACT).

DISCLAIMER OF LIABILITY

With respect to documents available from this web site, neither the State of New Hampshire nor any of its employees makes any warranty, express or implied, including warranties of merchantability and fitness for a particular purpose or assumes any legal liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights.

DISCLAIMER OF ENDORSEMENT

Reference herein to any specific commercial products, process or service by trade name, trademark or manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation or favoring by the State of New Hampshire. The views and opinions of authors expressed herein do not necessarily state or reflect those of the State of New Hampshire and shall not be used for advertising or product endorsement purposes.

The State of New Hampshire is not responsible for the contents of any off-site pages referenced.

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New Hampshire Secretary of State