TDCI Securities Division Encourages Investors to Know Their Rights

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division urges Tennesseans to be and stay informed when it comes to their investments. Quality service and clear reporting should be key components of all investment relationships.

“As an investor, you have important rights,” said TDCI Assistant Commissioner for Securities Frank Borger-Gilligan. “It’s crucial to review and apply these essential rights before committing your funds. Being an informed investor can help you spot potential problems such as fraudulent activity. ”

When investing, it is vital to not only know the right questions to ask, but to verify the answers you receive. A smart investor should have an acute awareness of the standards to be expected in an investment relationship.

When investing, you have a right to:

Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.

Receive complete information about the risk, obligations, and cost of any investment before investing.

Receive a copy of all completed account forms and agreements.

Receive recommendations consistent with your financial needs and investments objectives.

Receive account statements that are accurate and understandable.

Understand the terms and conditions of transaction you undertake.

Access your funds in a timely manner and receive information about any restrictions or limitations on access.

Discuss account problems with the branch manager or compliance department or service charges, transaction or redemption fees, and penalties.

Receive complete information about commissions, sales charges, maintenance or service charges, transaction or redemption fees, and penalties.

Contact the Tennessee Securities Division in order to verify the employment and disciplinary history of a securities salesperson and the salesperson’s firm; find out if the investment is permitted to be sold; or file a complaint.

To learn more about how to protect yourself from investment fraud, contact the Tennessee Securities Division at 1-800-863-9117 or visit our website. 

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