The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division recently amended its current rules to allow certain investment advisers, private fund advisers and venture capital firms whose only clients are private funds and who meet the new rule’s definition to be exempt from registration and custody requirements. However, these firms will be required to notice file and annually renew the filing with the division. The division says there has been confusion as to who should be utilizing the new exemption with some relying on the de minimis exemption and believing custody requirements do not apply. To clarify, the division says that the de minimis exemption never exempted an investment adviser from the requirement to comply with custody rules. However, those who meet the requirements of the newly created private fund exemption, found at Tennessee Securities Rule 0780-04-03-.05 (1)(c), are not subject to the custody requirements. To help investors, the division has prepared an FAQ to provide greater clarification.

AutoZone, Bass, Berry & Sims, and Memphis Area Legal Services will team up to offer free legal services to Memphis-area seniors at the 15th annual “Give a Little, Help a Lot” pro bono legal aid clinic on July 16 at the Orange Mound Senior Center. The event, which has helped hundreds of seniors since it began in 2009, will provide low-income seniors with assistance in preparing advance care plans, health care directives, durable power of attorney forms, wills and other important legal documents. Attorneys, paralegals and volunteers will work one-on-one with seniors from 11 a.m. to 1 p.m. CDT. For more information contact Mikey Mooney of Poston Communications at mooney@postoncommunications.com or at 404-875-3400.

The Republican primary contest to succeed U.S. Rep. John Rose in Tennessee’s 6th Congressional District is taking shape, The Tennessee Journal reports. Three candidates have announced their intentions to run. They are: Van Hilleary, Rose’s chief of staff and former U.S. representative from Chattanooga, state House Republican Whip Johnny Garrett, R-Goodlettsville, and Dale Braden. On the Democratic side, Mike Croley is the first to announce, according to Tennessee Lookout. Rose, from Cookeville, is leaving Congress to run for governor. The district includes the eastern part of Nashville, parts of Wilson County and about a dozen counties in Middle and East Tennessee.

The Tennessee Supreme Court issued an order yesterday denying a death row inmate's request for a hearing on his competency, paving the way for his execution on Aug. 5, The Tennessean reports. Byron Black's lawyers have argued that his intellectual disability, along with dementia and severe brain damage, make him incompetent for execution. In June, they asked the justices to reverse a lower court’s ruling that declined to consider the issue. In denying the request, the Supreme Court stated that the intellectual disability claim has been litigated fully on the merits and no extenuating circumstances warrant a different outcome. Black's lawyer said she plans to appeal the ruling to the U.S. Supreme Court. The legal team also has filed a petition in Davidson County Chancery Court, asking the state to ensure that his implanted heart defibrillator is disabled before his execution. A hearing in that matter is scheduled for July 14.

Jared Effler, district attorney general in the state's 8th Judicial District, has been elected by members of the Tennessee District Attorneys General Conference to serve as president of the organization. A native of Union County, Effler earned his law degree from the University of Memphis Cecil C. Humphreys School of Law in 1999. He first served the district as an assistant district attorney. According to Knox TN Today, Effler said he looks forward to working with his colleagues “as we advocate for crime victims and work to improve public safety in our great state.” He took office in 2014 and was re-elected without opposition in 2022. The 8th Judicial District includes Campbell, Claiborne, Fentress, Scott and Union counties.

Chattanooga lawyer and former TBA President Sam D. Elliott took over as chair of the Tennessee Bar Foundation Board of Trustees on July 1, Chattanoogan.com reports. Elliott, a member of Gearhiser, Peters, Elliott & Cannon PLLC and a foundation board member since 2019, will serve for one year. The foundation, established in 1982, administers the state’s Interest on Lawyers’ Trust Accounts (IOLTA) program, honors distinguished attorneys as fellows and supports law-related public interest projects. The IOLTA program funds Tennessee’s legal aid programs and other nonprofit organizations. Elliott is a former president of the Chattanooga Bar Association and currently serves as chair of the Tennessee Historical Commission.

Recently, family law attorney and current section chair K.O. Herston provided a one hour CLE titled “The Art of the Family Law Consultation,” which offered practical guidance for attorneys on how to conduct effective client consultations. The seminar covered strategies for efficient and empathetic intake and managing consultations to build trust and rapport. Designed for both new and experienced practitioners, the program focused on improving consultation skills and boosting client retention, and it is now available as an on-demand course for practitioners who were unable to attend the live seminar. For more information and to purchase, visit the TBA CLE website.

Multinational investment company BlackRock plans to include private assets in its retirement plans, according to an article from Reuters. The move to expand alternative investments into defined contribution plans could boost annual returns by about 50 basis points, adding about a 15% increase in 401(k) savings over 40 years, according to company estimates. The approach would include a 5% to 20% allocation to private assets in the retirement plans, depending on the investor's age. BlackRock anticipates portfolios in the future will comprise 50% public equities, 30% public fixed income and 20% private markets.

The Tennessee Department of Mental Health and Substance Abuse Services (TDMHSAS) is launching “Promise to Call,” a new effort to prevent suicide. The concept involves a promise to contact a designated person if you have thoughts of suicide. “The concept of a promise is so simple and so universal,” said TDMHSAS Commissioner Marie Williams. “This promise has already saved lives among my own family, friends, and coworkers, and we are so excited for the potential it holds for saving countless more lives across our state." TDMHSAS has several ways to get involved, including spreading awareness through social media outreach and printed materials. Email matthew.parriott@tn.gov for more information.

The 2025 Federal Practice Forum, set for July 15, will provide attorneys with essential updates and practical insights across three sessions: immigration law, art and cultural heritage law, and attorney wellness, including a session exploring parallels between athletes and the mental health challenges lawyers face. Speakers include Brent Jones an assistant U.S. attorney in Knoxville, Diane Penneys Edelman with the Brooklyn Law School, Amber Seay with The Ehrisman Law Firm, and Stuart Teicher, known as The CLE Performer. For more information and to register, visit TBA's website.