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If an individual investor has a dispute with a FINRA brokerage firm or stock broker, he/she most likely will have to arbitrate through FINRAs Dispute Resolution system. FINRA Arbitration holds arbitration hearings in Nashville, Tennessee and Memphis, Tennessee.

The Tennessee Department of Commerce and Insurance, Securities Division, in Nashville, Tennessee regulates the sales of securities in the state of Tennessee. Its websiteprovides information on consumer protection, state securities Statutes and Rules, and other securities resources.

Tennessees Uniform Securities Act is similar to many states Acts with regard to providing for civil liability for the commission of securities fraud in the sale of securities (including untrue statements of material fact or omissions of material fact). The statute provides for rescission (or damages if the investor no longer owns the security) and interest.

Tennessee Code Ǡ48-2-122 Civil Liabilities:

(a) (1) Any person who:

(A) Sells a security in violation of ǧ 48-2-104 -- 48-2-109, 48-2-110(f), or of any condition imposed under Ǡ48-2-107(f), or any rule, or order under this part of which the person has notice; or

(B) Sells a security in violation of Ǡ48-2-121(a) (the purchaser not knowing of the violation of Ǡ48-2-121(a), and who does not carry the burden of proof of showing that the person did not know and in the exercise of reasonable care could not have known of the violation of Ǡ48-2-121(a)); shall be liable to the person purchasing the security from the seller to recover the consideration paid for the security, together with interest at the legal rate from the date of payment, less the amount of any income received on the security, upon the tender of the security, or, if the purchaser no longer owns the security, the amount that would be recoverable upon a tender, less the value of the security when the purchaser disposed of it and interest at the legal rate from the date of disposition.

(2) Tender shall require only notice of willingness to exchange the security for the amount specified.

(3) Any notice may be given by service as in civil actions or by certified mail addressed to the last known address of the person liable.

(b) (1) Any person who purchases a security in violation of Ǡ48-2-121(a) (the seller not knowing of the violation of Ǎ 48-2-121(a), and who does not carry the burden of proof of showing that the purchaser did not know and in the exercise of reasonable care could not have known of the violation of Ǡ48-2-121(a)) shall be liable to the person selling the security to the purchaser to return the security, plus any income received by the purchaser thereon, upon tender of the consideration received, or, if the purchaser no longer owns the security, the excess of the value of the security when the purchaser no longer owns the security, the excess of the value of the security when the purchaser disposed of it, plus interest at the legal rate from the date of disposition, over the consideration paid for the security.

(2) Tender requires only notice of willingness to pay the amount specified in exchange for the security.

(3) Any notice may be given by service as in civil actions or by certified mail to the last known address of the person liable.

(c) (1) Any person who willfully engages in any act or conduct which violates Ǡ48-2-121 shall be liable to any other person (not knowing that any such conduct constituted a violation of Ǡ48-2-121) who purchases or sells any security at a price which was affected by the act or conduct for the damages sustained as a result of such act or conduct unless the person sued shall prove that the person sued acted in good faith and did not know, and in the exercise of reasonable care could not have known, that such act or conduct violated Ǡ48-2-121.

(2) Damages shall be the difference between the price at which the other person purchased or sold securities and the market value which the securities would have had at the time of the other person's purchase or sale in the absence of the act or conduct plus interest at the legal rate.

(d) Any person who shall make or cause to be made any statement in any application, report, or document filed pursuant to this part or any rule or order hereunder or any undertaking contained in a registration statement hereunder, or in any advice given in such person's capacity as an investment adviser, which statement was at the time and in the light of the circumstances under which it was made false or misleading with respect to any material fact, shall be liable to any person (not knowing that any such statement was false or misleading) who, in reliance upon such statement, shall have purchased or sold a security at a price which was affected by such statement, for damages (calculated as provided in subsections (a) and (b)) caused by such reliance, unless the person sued shall prove that the person sued acted in good faith and had no knowledge that such statement was false or misleading and in the exercise of reasonable care could not have known that such statement was false or misleading.

(e) A person seeking to enforce any liability under this section may sue either at law or in equity in any court of competent jurisdiction.

(f) In any such suit under this section, the court may, in its discretion, require an undertaking for the payment of the costs of such suit, and assess reasonable costs, including reasonable attorneys' fees, against either party litigant.

(g) Every person who directly or indirectly controls a person liable under this section, every partner, principal executive officer, or director of such person, every person occupying a similar status or performing similar functions, every employee of such person who materially aids in the act or transaction constituting the violation, and every broker-dealer or agent who materially aids in the act or transaction constituting the violation, are also liable jointly and severally with and to the same extent as such person, unless the person who would be liable under this subsection (g) proves that the person who would be liable did not know, and in the exercise of reasonable care could not have known, of the existence of the facts by reason of which the liability is alleged to exist. There is contribution as in cases of contract among the several persons so liable.

(h) No action shall be maintained under this section unless commenced before the expiration of five (5) years after the act or transaction constituting the violation or the expiration of two (2) years after the discovery of the facts constituting the violation, or after such discovery should have been made by the exercise of reasonable diligence, whichever first expires.

(i) Any condition, stipulation, or provision binding any person acquiring any security to waive compliance with any provision of this part or any rule or order hereunder is void.

(j) The rights and remedies under this part are in addition to any other rights or remedies that may exist at law or in equity.

(k) The legal rate of interest shall be that as provided by Ǡ47-14-121.

FINRA securities brokerage firms with their main offices in Tennessee:

AARON CAPITAL, INCORPORATED
5180 PARK, SUITE 130, MEMPHIS, TN 38119

ADVANCED ASSET TRADING, INC
5050 POPLAR AVE, SUITE 528, MEMPHIS, TN 38157
Mailing Address: 5050 POPLAR AVE NO.528, MEMPHIS, TN 38157

ALLUVION SECURITIES, LLC
5101 WHEELIS DRIVE, SUITE 200, MEMPHIS, TN 38117

AVONDALE PARTNERS, LLC
3102 WEST END AVENUE, SUITE 1100, NASHVILLE, TN 37203
Mailing Address: 3102 WEST END AVE, SUITE 1100, NASHVILLE, TN 37203

BRANDON INVESTMENTS, INC.
5101 WHEELIS ROAD, SUITE 112, MEMPHIS, TN 38117
Mailing Address: P O BOX 770870, MEMPHIS, TN 38177-0870

BRIGHTCHOICE FINANCIAL, LLC
618 CHURCH STREET, SUITE 430, NASHVILLE, TN 37219

BROWN ASSOCIATES, INC.
819 BROAD STREET, CHATTANOOGA, TN 37402-2613
Mailing Address: P.O. BOX 11507, CHATTANOOGA, TN 37401-2507

CAPWEALTH INVESTMENT SERVICES, LLC
3000 MERIDIAN BLVD, SUITE 250, FRANKLIN, TN 37067

CARTY & COMPANY, INC.
6263 POPLAR AVENUE, SUITE 800, MEMPHIS, TN 38119
Mailing Address: P.O. BOX 17527, MEMPHIS, TN 38187-0527

CENTER STREET SECURITIES, INC.
26 CENTURY BLVD., SUITE 301, NASHVILLE, TN 37214

CHICKASAW SECURITIES, LLC
6075 POPLAR AVENUE, SUITE 402, MEMPHIS, TN 38119

COMMERCE SQUARE TRADING, LLC
6075 POPLAR AVENUE - CRESCENT CENTER, SUITE 700, MEMPHIS, TN 38119
Mailing Address: 6075 POPLAR - CRESCENT CENTER, SUITE 700, MEMPHIS, TN 38119

CURTISWOOD CAPITAL, LLC
104 WOODMONT BLVD, SUITE 200, NASHVILLE, TN 37205

CW SECURITIES, LLC
8848 CEDAR SPRINGS LANE, SUITE 201, KNOXVILLE, TN 37923

DEARBORN CAPITAL MARKETS GROUP, LLC
3065 EAST CORPORATE EDGE DRIVE, SUITE 101, GERMANTOWN, TN 38138

DECOSIMO CORPORATE FINANCE, LLC
SUITE 902, TALLAN FINANCIAL CENTER, CHATTANOOGA, TN 37402

DUNCAN-WILLIAMS, INC.
6750 POPLAR A VENUE - SUITE 300, MEMPHIS (SHELBY), TN 38138-7424
Mailing Address: 6750 POPLAR AVENUE - SUIITE 300, MEMPHIS (SHELBY), TN 38138-7424

ENERGY SECURITIES, INC.
1612 WESTGATE CIRCLE, SUITE 120, BRENTWOOD, TN 37027
Mailing Address: 1612 WESTGATE CIRLCE, SUITE 120, BRENTWOOD, TN 37027

EXTENSION ADVISORS, LLC
4015 HILLSBORO PIKE, SUITE 214, NASHVILLE, TN 37215

FIRST CITIZENS FINANCIAL PLUS, INC.
2017 ST. JOHN AVE. SUITE A, DYERSBURG, TN 38024
Mailing Address: PO BOX 370, DYERSBURG, TN 38025-0370

FIRST TENNESSEE BROKERAGE, INC.
530 OAK COURT DRIVE, SUITE 200, MEMPHIS, TN 38117
Mailing Address: P.O. BOX 240655, MEMPHIS, TN 38124-0655

FOURBRIDGES CAPITAL ADVISORS, LLC
1300 BROAD STREET, SUITE 201, CHATTANOOGA, TN 37402

FTN FINANCIAL SECURITIES CORP
845 CROSSOVER LANE STE 150, MEMPHIS, TN 38117
Mailing Address: 845 CROSSOVER LANE, SUITE 150, MEMPHIS, TN 38117

HARPETH SECURITIES, LLC
FIFTH THIRD CENTER, 424 CHURCH STREET - SUITE 2900, NASHVILLE, TN 37219-2334

HOME FINANCIAL SERVICES, INC.
507 MARKET STREET, KNOXVILLE, TN 37902

ICBA SECURITIES
775 RIDGE LAKE BLVD., SUITE 200, MEMPHIS, TN 38120

IROQUOIS CAPITAL ADVISORS, LLC
401 COMMERCE STREET, SUITE 740, NASHVILLE, TN 37219

K CAPITAL LLC
425 CUMBERLAND PLACE, NASHVILLE, TN 37215

LOVELL INCORPORATED
1519 LIPSCOMB DRIVE, BRENTWOOD, TN 37027
Mailing Address: P.O. BOX 157, BRENTWOOD, TN 37024

MORGAN KEEGAN & COMPANY, INC.
FIFTY FRONT STREET, MORGAN KEEGAN TOWER, MEMPHIS, TN 38103-9980

PARTNER CAPITAL GROUP, LLC
6368 CHICKERING CIRCLE, NASHVILLE, TN 37215

SANDERLIN SECURITIES, LLC
5170 SANDERLIN AVE. - SUITE 102, MEMPHIS, TN 38117

SECURITIES SERVICE NETWORK, INC.
9729 COGDILL ROAD, SUITE 301, KNOXVILLE, TN 37932
Mailing Address: POST OFFICE BOX 30977, KNOXVILLE, TN 37930

SEVILLE CAPITAL, INC.
124 MABRY HOOD ROAD, KNOXVILLE, TN 37922

SILVER OAK SECURITIES, INCORPORATED
3339 N. HIGHLAND AVE, JACKSON, TN 38305

TAYLOR SECURITIES, INC.
100 WINNERS CIRCLE, SUITE 400, BRENTWOOD, TN 37027

THE SECURITIES GROUP, LLC
6465 NORTH QUAIL HOLLOW ROAD, SUITE 400, MEMPHIS, TN 38120-1417

THOROUGHBRED FINANCIAL SERVICES, LLC
5110 MARYLAND WAY, SUITE 300, BRENTWOOD, TN 37027

TRUSTCORE INVESTMENTS, INC.
105 WESTWOOD PLACE, SUITE 400, BRENTWOOD, TN 37027-1015

TRUSTFIRST
265 BROOKVIEW CENTRE WAY, SUITE 504, KNOXVILLE, TN 37919

VELOCITYHEALTH SECURITIES, INC.
95 WHITE BRIDGE ROAD, SUITE 409, NASHVILLE, TN 37205

VINING SPARKS
775 RIDGE LAKE BLVD., SUITE 200, MEMPHIS, TN 38120

WILEY BROS.-AINTREE CAPITAL, LLC
40 BURTON HILLS BLVD., SUITE 350, NASHVILLE, TN 37215

WUNDERLICH SECURITIES, INC.
6000 POPLAR AVENUE, SUITE 150, MEMPHIS, TN 38119