Securities Registration Section - Cora M. Alston, Chief. The Securities Registration Section regulates the sale of all public and private securities offerings under the Tennessee Securities Act of 1980. The statute states that "It is unlawful for any person to sell any security in this state unless: (1) It is registered under this part; (2) The security or transaction is exempted under T.C.A. 48-2-103; or (3) The security is a covered security."

The Section reviews securities offerings applications that include the prospectus, description of the security, financial statements, and other pertinent information. If an offering is found to be in compliance with provisions of the Securities Act, it is registered.

We encourage investors to call and find out whether a particular security is registered, is exempt from registration, or whether a notice to sell a particular security has been filed. 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.

The Section registers about fifteen percent of all securities sold in this state. Most securities are exempt from state registration, either because they are sold on a recognized exchange (such as the New York Stock Exchange, American Stock Exchange, NASDAQ/NMS, Chicago Board Options Exchange, or Philadelphia Stock Exchange) or are of a type of security or transaction that does not require registration (such as securities issued by banks or governments).

Additional Information

• Securities Offering Filing Instructions and Forms

Valuable Resources

• Requesting Public Information from the Division
• United States SEC Electronic Data Gathering,
• Analysis, and Retrieval System (EDGAR)
• TN Investor Education
• TN Securities Act of 1980
• TN Securities Rules
• Related Websites

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