Senate
Record of Committee Proceedings
Committee on Insurance, Financial Services, Government Oversight and Courts
Senate Bill 428
Relating to: financial exploitation of vulnerable adults with securities accounts, violations of the Wisconsin Uniform Securities Law, granting rule-making authority, and providing a penalty.
By Senators Testin, Carpenter, Bernier, Cowles, Olsen, Petrowski and Wirch; cosponsored by Representatives Macco, Wittke, Bowen, Brandtjen, Dittrich, Edming, Gundrum, Horlacher, James, Katsma, Knodl, Krug, Kulp, Magnafici, Mursau, Novak, Petersen, Petryk, Plumer, Quinn, Ramthun, Rohrkaste, Schraa, Steffen, Summerfield, Thiesfeldt, Tittl, Tranel and Skowronski.
September 17, 2019 Referred to Committee on Insurance, Financial Services, Government Oversight and Courts
January 16, 2020 Public Hearing Held
Present: (5) Senator Craig; Senators Stroebel, Feyen, Risser and L. Taylor.
Absent: (0) None.
Excused: (0) None.
Appearances For
· Helen Marks Dicks - AARP WI
· Mr Michael Semmann - Wi bankers association
· Mr Ken Thompson - Wba
· Representative John Macco
· White Collar Crime Paralegal April DeValkenaere - Waukesha County District Attorneys Office
· Senator Pat Testin
Appearances Against
· Bruce Tammi - State Bar of WI-Elder and Special Needs Section
Appearances for Information Only
· Ed Robinson - Wisconsin Association for Justice
Registrations For
· Susan Fadness - AARP
· Steve Lyons - Wisconsin chiefs of police association
· Joe Kallas - AARP
· Patsy Eva s
· ALLEN Knop - Aarp
· Jordan Lamb - Professional Insurance Agents of WI
· Bill McClenahan - NAIFA
· Bill McClenahan - Thrivent Financial
Registrations Against
· None.
Registrations for Information Only
· None.
February 13, 2020 Executive Session Held
Present: (5) Senator Craig; Senators Stroebel, Feyen, Risser and L. Taylor.
Absent: (0) None.
Excused: (0) None.
Moved by Senator Feyen, seconded by Senator Stroebel that Senate Bill 428 be recommended for passage.
Ayes: (3) Senator Craig; Senators Stroebel and Feyen.
Noes: (2) Senators Risser and L. Taylor.
PASSAGE RECOMMENDED, Ayes 3, Noes 2
______________________________
Sam Hope
Committee Clerk
