Bill > HB0304

This bill makes various changes to the regulation of securities under the Tennessee Securities Act of 1980, including amending TCA Title 48, Chapter 1, Part 1. Key provisions of the bill include: - Expanding certain securities exemptions and transactions exempted from registration requirements under the Act. - Increasing the maximum civil penalties the Commissioner can impose for violations, including up to $20,000 per violation if the victim is a designated adult. - Modifying the requirements and procedures for securities registration by coordination. - Allowing the Commissioner to require the filing of certain advertising and sales literature. - Providing for the designation of an assistant commissioner of securities to help administer the Act. - Adding new provisions related to reporting and temporarily delaying disbursements to protect against financial exploitation of designated adults. Overall, the bill aims to update and strengthen the Tennessee Securities Act to better protect investors, especially vulnerable adults, while also streamlining certain regulatory requirements.

Budget and Finance, Business and Industry, Government Affairs

http://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0304&ga=110