Nashville Investment Adviser’s Registration Revoked, Penalized $2,000

NASHVILLE – The Tennessee Department of Commerce and Insurance (TDCI) announces recent disciplinary actions against a Nashville-based investment broker who violated Tennessee’s securities law by not complying with state regulations regarding the inspection of his company’s books and records.

An Initial Order revoked the Tennessee Investment Adviser registration of Full Life Financial, LLC, as well as the Investment Adviser Representative registration of Michael Keith Newcomb, the owner of Full Life, in addition to imposing $2,000 in civil penalties jointly against Full Life and Newcomb. Newcomb, who is based in Nashville, was the only employee of Full Life Financial, LLC.

Newcomb and his company, Full Life Financial, LLC, were assessed the penalties for having willfully violated or failed to comply with a subpoena issued by TDCI Commissioner Julie Mix McPeak to produce records as part of an investigation by the Financial Services Investigations Unit.

“State investment adviser laws are in place to protect consumers and ensure brokers and representatives are held to certain standards,” said Commissioner McPeak. “Consumers should always contact our Securities team first or visit Broker Check to research the background and experience of financial brokers, advisers and firms before they invest.”

Tennesseans who are interested in investments are encouraged to visit the Department’s website where they can inspect disciplinary actions and verify licenses of securities and insurance professionals. If you feel you have been the victim of an unfair transaction or have witnessed unlicensed activity, you can file a complaint or contact TDCI’s Securities Division – Financial Services Investigations Unit at (615) 741-5900.

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