Securities Litigation

The Securities Division of the Tennessee Department of Commerce and Insurance issued a May 2 press release encouraging consumers to report financial-services misconduct to its Financial Services Investigations Unit.

"The FSIU investigates complaints involving allegations of securities and insurance fraud and other violations of the Tennessee Securities and Insurance Acts," said TDCI Assistant Commissioner for Securities Frank Borger-Gilligan. "Common violations include: fraud, misappropriation of funds, misrepresentations, unregistered or unlicensed activity, churning of accounts, and unethical business practices. Call the Tennessee Securities Division if you think you've been a victim of these types of fraudulent activity."

FSIU investigations generally are confidential and private. Although the Securities Division is limited to administrative enforcement actions, it refers prospective criminal actions to the appropriate federal and state enforcement authorities. The FSIU can be reached at (615) 741-5900. The release is here. Thomas K. Potter, III (tpotter@burr.com) is a partner in the Securities Litigation Practice Group at Burr & Forman, LLP. Tom is licensed in Tennessee, Texas and Louisiana. He has over 30 years' experience representing financial institutions in litigation, regulatory and compliance matters. See attorney profile. © 2016 by Thomas K. Potter, III (all rights reserved).