2005 Chapter 551

CHAPTER 551

WISCONSIN UNIFORM SECURITIES LAW

SUBCHAPTER I

TITLE AND DEFINITIONS

551.01 Short title.

551.02 Definitions.

SUBCHAPTER II

REGISTRATION AND NOTICE FILING
PROCEDURES; SECURITIES

551.21 Registration requirement.

551.22 Exempt securities.

551.23 Exempt transactions.

551.24 Exemption proceedings.

551.25 Registration by coordination.

551.26 Registration by qualification.

551.27 General registration provisions.

551.28 Denial, suspension and revocation of registrations.

551.29 Federal covered securities.

SUBCHAPTER III

LICENSING AND NOTICE FILING PROCEDURES; BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES

551.31 Licensing and notice filing requirements.

551.32 Licensing and notice filing procedure.

551.33 Post-licensing provisions.

551.34 Denial, suspension and revocation of licenses.

SUBCHAPTER IV

FRAUDULENT PRACTICES

551.41 Sales and purchases.

551.42 Market manipulation.

551.43 Broker-dealer activities.

551.44 Advisory activities.

SUBCHAPTER V

GENERAL PROVISIONS

551.51 Administration.

551.52 Fees and expenses.

551.53 Advertising.

551.54 Misleading filings.

551.55 Unlawful representations.

551.56 Investigations and subpoenas.

551.57 Injunctions.

551.58 Criminal penalties.

551.59 Civil liabilities.

551.60 Miscellaneous powers.

551.605 Administrative assessments; investor education.

551.61 Hearings and judicial review.

551.62 Stay of proceedings.

551.63 Rules, forms and orders.

551.64 Administrative files and opinions.

551.65 Service of process.

551.66 Scope of chapter.

551.67 Statutory policy.

subch. I of ch. 551 SUBCHAPTER I

TITLE AND DEFINITIONS

551.01 551.01  Short title. This chapter shall be known and may be cited as the "Wisconsin Uniform Securities Law".

551.02 551.02  Definitions. In this chapter, unless the context otherwise requires:

551.02(1g) (1g) "Accredited investor" has the meaning given in 17 CFR 230.501 (a).

551.02(1r) (1r) "Advertising" means any circular, prospectus, advertisement or other material or any communication by radio, television, pictures or similar means used in connection with a sale or purchase or an offer to sell or purchase any security.

551.02(2) (2) "Agent" means any individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect transactions in securities. A partner, officer or director of a broker-dealer or issuer, or a person occupying a similar status or performing similar functions, is an agent if he or she is within this definition. "Agent" does not include an individual who represents an issuer in doing any of the following:

551.02(2)(a) (a) Effecting transactions in a security exempted by s. 551.22.

551.02(2)(b) (b) Effecting transactions exempted by s. 551.23, other than transactions exempted under s. 551.23 (8) (g), (10) or (19) in which the individual receives a commission or other remuneration directly or indirectly for soliciting or selling to any person in this state.