TN SB1866

Exempts persons from investment adviser registration requirements if exempted by commissioner rule under specified statutory provisions

Authorizes chancery courts to appoint the Commissioner of Commerce and Insurance as receiver or conservator for defendants and their assets in securities enforcement actions upon the commissioner's request

Establishes statute of limitations for private securities law actions: 5 years from the violation or 2 years from discovery of facts (or when discovery should have been made with reasonable diligence), whichever expires first

Requires broker-dealers and agents seeking to expunge customer dispute information from the Central Registration Depository (CRD) system to provide 60 days written notice to the department and name the department as a party to the proceeding, though the commissioner may waive the party requirement

Deletes Tennessee Code Annotated, Title 49, Chapter 4, Part 1 in its entirety