Registration Section Overview

The Registration Section of the Tennessee Securities Division is responsible for administering T.C.A. §48-1-109 of the Tennessee Securities Act of 1980, which requires that broker-dealers, agents, investment advisers, and investment adviser representatives register before they can lawfully conduct business in the state of Tennessee. Registration examination is a process in which securities examiners review, among other items, individual and firm disclosure history, the applicant’s financial status, the firm’s business practices (especially provisions in adviser client contracts), and potential conflicts of interest. This thorough examination prevents unqualified applicants from entering the securities industry while also streamlining the process for the vast majority of registrants who provide valuable services through honest operations. The coordinated and precise examination programs are on-the-ground, proactive systems that leverage the experienced and skilled staffs to ensure a compliant industry.

The Registration Section also regulates the sale of all public and private securities offerings under the Tennessee Securities Act of 1980.  Applications for securities product registration are submitted by companies, and if there are concerns or questions about the applicant’s information or unexplained gaps in the information, we will address those directly with the applicant. The applicant will not become registered until all issues are determined to meet the requirements of the Tennessee Securities Act of 1980.

The Securities Division encourages the public to investigate the background of broker-dealers, agents, investment advisers, and investment adviser representatives before they invest. There are two systems readily accessible to the investing public, industry and regulators. They are known as the CRD (Central Registration Depository) System and IARD (Investment Adviser Registration Depository) System. The CRD System contains the licensing and disciplinary histories on more than 650,000 securities professionals and 5,200 securities firms. The IARD System helps investors research the employment and disciplinary histories of more than 11,000 investment adviser firms and 175,000 individual investment advisers.

We also encourage investors to call and find out whether a particular covered security is registered, exempt from registration, or whether a notice to sell a particular covered security has been filed. Records concerning the disciplinary history, registration history, and filing history of notice filers and registrants are available for public inspection and copying during the Division's office hours (8:00 A.M. to 4:30 P.M., CT). If it appears the security is not being sold lawfully, you may file a complaint with the Securities Division's Enforcement Section, so that an investigator can determine whether the investment is in compliance with state law.

To request public information, please contact:

Elizabeth Bowling, Director of Registration
Phone: 615-770-0088 / 800-863-9117 (Toll Free)
Fax: 615-532-8375
E-mail: Elizabeth.Bowling@tn.gov
 

To file a complaint, please contact:

Chris Clausi, Director of Enforcement
Phone: 615-532-3956
Fax: 615-532-8375
E-mail: Chris.Clausi@tn.gov