Tennessee Securities Division Launches New Examination Program

NASHVILLE – The Tennessee Department of Commerce & Insurance (TDCI) announces the launch of a new three-year cycle of comprehensive examinations of Tennessee-based brokerages and investment firms.  As the regulator of Tennessee investment advisers and broker-dealers, TDCI’s exams will enhance protection for Tennessee investors by preventing regulatory violations and non-compliance with investment guidelines.  

“Tennessee investors deserve to have peace of mind about the qualifications, record-keeping and oversight of the investment firms and brokerages where they are investing their life savings,” TDCI Assistant Commissioner Frank Borger-Gilligan said.  “Tennessee brokers and investment advisors deserve to know that the State of Tennessee is fairly and effectively enforcing securities regulations.”   

The three year examination cycle will be conducted through announced or unannounced field exams or “desk exams” which can be conducted remotely. These exams require registered brokers and investment advisors to provide detailed documentation to 18 categories of questions. Under state law, the Securities Division has the authority to review a firm’s financial records.  

There are currently 46 broker-dealer firms and 222 investment advisor firms located in Tennessee (There are a total of 272 investment advisor firms registered in Tennessee.)

A “lunch and learn” workshop designed to explain the exam process and its requirements to investment advisers will be held starting at 11 a.m. Feb. 10, 2016 at the Davy Crockett Tower at 500 James Robertson Parkway, Nashville, TN 37243. Future workshops will be conducted throughout 2016.

For more information about the examination program, call (615) 532-2375 or 1-800-863-9117.

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