Effective 11-01-98.
An order amending s. Ins 2.30, relating to adopting additional annuity mortality tables.
Effective 01-01-99.
Public Notice
Public Notice
Financial Institutions
(Division of Securities)
Order Designating as Licensees Certain Investment Adviser Representatives who as of July 9, 1998 were Qualified in Wisconsin on the Basis of Having Met the Examination Requirement of s. 551.32 (4), Wis. Stats.
(1) WHEREAS, prior to July 9, 1998, a person representing an investment adviser subject to licensure under s. 551.31(3), Wis. Stats., was required to be qualified to represent the investment adviser to transact business in this state on the basis of having met the examination requirement of s. 551.32 (4), Wis. Stats;
(2) WHEREAS, under legislation in 1997 Wis. Act 316 (“Act 316") an “investment adviser representative," as defined in s. 551.02 (7m), Wis. Stats., must comply with the licensing requirement in either s. 551.31(3m), Wis. Stats., or 551.31 (4) (b), Wis. Stats.;
(3) WHEREAS, with respect to a person described in paragraph (1) who became subject to the investment adviser representative definition and licensing requirements of Act 316 upon effectiveness thereof, it was not intended that such a person would need to become licensed prior to the May 1, 1999 date prescribed for license renewal; however, no provision was made in Act 316 to designate such a person as a licensee for purposes of s. 551.31(3m) or 551.31(4) (b), Wis. Stats., through April 30, 1999 (unless the license is sooner withdrawn, terminated, suspended or revoked), at which time the license is subject to renewal.
NOW THEREFORE, pursuant to s. 551.63 (1) and (2) of the Wisconsin Uniform Securities Law, IT IS HEREBY ORDERED as follows:
(A) A person described in paragraph (1) of this Order who became subject to the investment adviser representative definition and licensing requirements of Act 316 upon effectiveness thereof is designated a licensee for purposes of s. 551.31(3m) or 551.31(4)(b), Wis. Stats., (whichever is applicable) and related administrative rules thereunder through April 30, 1999, unless the license is sooner withdrawn, terminated, suspended or revoked.
Copies of the Order
Copies of the Order are available free of charge by writing to:
Division of Securities
Dept. of Financial Institutions
P. O. Box 1768
MADISON, WI 53701
The State of Wisconsin
Department of Administration
Document Sales Unit
P.O. Box 7840
Dated Material. Please Do Not Delay!
