Biography Photo of Frank Borger Gilligan

Frank Borger Gilligan

Frank Borger Gilligan is a member of the firm’s Corporate, M&A and Securities practice group. Frank regularly advises clients in structuring and executing public and private securities offerings, private equity, and raising capital through Regulation D, Regulation A+ and Regulation Crowdfunding. Frank also advises clients on regulatory matters related to FinTech, and is a member of Dickinson Wright’s cannabis practice group where he helps clients raise capital and properly structure their securities offerings in the constantly evolving legal and regulatory landscape.

As the former top securities regulator for the State of Tennessee, Frank has extensive experience working on federal and state securities matters, including public and private securities offerings and investigations. He has worked with the Securities and Exchange Commission, FINRA, SIFMA, the U.S. Attorney’s Office, and various state and federal agencies and brings this experience to assist clients in helping to understand and navigate complex securities laws and regulations.

He previously served as Assistant Commissioner for the Tennessee Securities Division and as President-Elect of the North American Securities Administrators Association (NASAA). Frank also served as Chair of NASAA’s Broker-Dealer Committee and Vice-Chair of the FinTech Committee. As Assistant Commissioner, Frank oversaw the Division’s three major program areas: Broker-Dealer and Investment Adviser Registration; Securities Registration; and Enforcement.

Prior to being appointed Assistant Commissioner, Frank served as the Director of Securities Enforcement and Fraud Investigations for the Tennessee Department of Commerce and Insurance. In that role, he led a team of skilled investigators who investigated suspected cases of insurance and securities fraud. As leader of this team, he successfully investigated hundreds of complaints ranging from technical violations to multi-million dollar frauds.

Frank also previously served as an Assistant Attorney General for the State of Tennessee and as Assistant District Attorney for the City of Philadelphia.

Education & Credentials


Columbia College


DePaul University College of Law


Bar Admission

  • Tennessee

Professional Involvement

  • President-Elect – North American Securities Administrators Association (NASAA) (2018-2019) 
  • Chair – NASAA Broker-Dealer Section Committee (2017-2018) 
  • Vice-Chair – NASAA FinTech Committee (2017-2019) 
  • Member – NASAA State Legislation Committee (2016-2018) 
  • Tennessee Bar Association 
  • Tennessee Captive Insurance Association 
  • Arts & Business Council of Greater Nashville 
  • Volunteer Lawyers & Professionals for the Arts (VLPA)  

Court Admissions

  • Sixth Circuit Court of Appeals 
  • U.S. District Court – Middle District of Tennessee
  • U.S. District Court – Eastern District of Tennessee 
  • U.S. District Court – Western District of Tennessee 


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