The Commission is the state regulatory authority
that makes decisions that affect the quality of service, utility
rates, and future investments by public utilities, including
telecommunications, water, electric and gas. By state law utilities
are regulated monopolies and are given the opportunity to earn a fair
and reasonable return on their investments. The Commission is required
to reach a balance between what is a fair and reasonable return on
investment, and service that is reliable and affordable for all
consumers. What is fair and reasonable is debated in rate hearings
where final decisions are made by the Commission in an Open Meeting.
The Commission oversees corporations including
granting corporate status for businesses and organizations and
maintaining public records. The Corporations Division approves for
filing all articles of incorporation for Arizona businesses and
organizations, and all articles of organization for limited liability
companies. It also grants authority to foreign corporations to
transact business in this state. When necessary, the Commission
investigates to determine a company's lawful purpose, and they revoke
the corporate charter of those corporations not in compliance with
Arizona law. Every corporation is required to file an annual report
which reflects its current status, business, and financial condition.
The Commission maintains this information for public access, responds
to public questions concerning businesses and corporation law, and
disseminates important information to businesses.
The Commission serves as a watchdog ensuring the
integrity of the securities marketplace and protecting the public from
investment scams and fraud through investigative actions and
registering, monitoring and investigating securities, securities
dealers and brokers, investment advisers and their representatives. To
enhance legitimate capital formation the Commission reviews
prospective offerings of securities to ascertain that full and fair
disclosure is made to potential investors and that the terms of
offerings are not inherently fraudulent. When the evidence warrants,
they initiate administrative, civil or criminal enforcement actions.
Railroad and Pipeline Safety
The Commission, under the supervision of the
Federal railroad and Pipeline safety division, insures the safe
operations of railroads and gas pipelines in Arizona. Staff inspects
gas pipelines for safety and operates a railroad safety program.
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