Nick Myers, Vice Chair | Arizona Corporation Commission
Nick Myers, Vice Chair | Arizona Corporation Commission
Following an administrative hearing, the Arizona Corporation Commission has decided to deny the investment adviser representative license application of Todd R. Anderson from Tucson. The decision was made after considering that such action serves the public interest.
The denial is linked to a permanent industry bar imposed on Mr. Anderson by the Financial Industry Regulatory Authority (FINRA). The Commission highlighted that Mr. Anderson was previously involved in at least one other FINRA investigation, which led to restitution, penalties, and a suspension of his license. Furthermore, he faced multiple customer complaints resulting in settlements and had been terminated by at least two securities dealers for not adhering to company policies.
The Commission also noted that Mr. Anderson did not fully comply with a subpoena issued by its Securities Division.
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