Chapter DFI-Sec 7

Chapter DFI-Sec 7

GENERAL PROVISIONS

DFI-Sec 7.01   Fees.

DFI-Sec 7.02   Advertising.

DFI-Sec 7.03   Civil liabilities.

DFI-Sec 7.04   Annual reports.

DFI-Sec 7.05   Files and records.

DFI-Sec 7.06   Financial statements.

Ch. DFI-Sec 7 Note Note: Renumbered from SEC 6, Register, December, 1977. Chapter SEC 7 was renumbered Chapter DFI-Sec 7 under s. 13.93 (2m) (b) 1., Stats., and corrections made under s. 13.93 (2m) (b) 6. and 7., Stats., Register, December, 1996, No. 492; Corrections made under s. 13.93 (2m) (b) 6., Stats., Register January 2004 No. 577.

DFI-Sec 7.01 DFI-Sec 7.01 Fees. The following fees payable in U.S. dollars, prescribed for the examination of various matters arising under ch. 551, Stats., are chargeable to the applicant or registrant, and are payable, unless otherwise provided by the division, at the time an application or notice is filed:

DFI-Sec 7.01(1) (1) Registration of securities matters.

DFI-Sec 7.01(1)(a) (a) Application for post-effective amendment of a registration statement   $200.

DFI-Sec 7.01(1)(b) (b) Application for extension of effectiveness of a registration statement   $200.

DFI-Sec 7.01(1)(d) (d) Prospectus filed by a registered finance company under s. DFI-Sec 3.07 (2)   $50.

DFI-Sec 7.01(2) (2) Securities registration exemption and federal regulation d matters.

DFI-Sec 7.01(2)(a) (a) Application for order of exemption under s. 551.203, Stats.   $200.

DFI-Sec 7.01(2)(b) (b) Notice filing for purposes of claiming registration exemption status under ss. 551.201, 551.202, or 551.203, Stats., or rules promulgated thereunder   $200.

DFI-Sec 7.01(2)(c) (c) Application for an opinion confirming a securities registration exemption or an exclusion from a definition   $500.

DFI-Sec 7.01(2)(d) (d) Filing under s. 551.302 (3), Stats., or s. DFI-Sec 2.029         $200.

DFI-Sec 7.01(3) (3) Broker-dealer and investment adviser registration matters.

DFI-Sec 7.01(3)(a) (a) Application for an initial registration of a broker-dealer or investment adviser or a successor under s. 551.401, 551.403, or 551.407, Stats.,   $200.

DFI-Sec 7.01(3)(b) (b) Application for an order waiving a registration provision  
  $200.

DFI-Sec 7.01(3)(c) (c) Field examination of applicant for initial registration as broker-dealer or investment adviser under s. 551.411 (4), Stats.
  $100 per day per examiner plus, if the examination is conducted outside of Wisconsin, each of the following costs incurred:

DFI-Sec 7.01(3)(c)1. 1. Reasonable transportation costs that may not exceed coach class air fare;

DFI-Sec 7.01(3)(c)2. 2. Ground transportation costs that on a per day basis may not exceed the daily rate charged by a national car rental agency in that locale for a compact-sized car; and

DFI-Sec 7.01(3)(c)3. 3. If the examination involves any overnight stay, hotel and meal costs not to exceed the per diem amounts prescribed for state agency reimbursement purposes by the office of state employment relations at the time the examination is made.

DFI-Sec 7.01(3)(d) (d) Periodic examination of a broker-dealer or investment adviser under s. 551.411 (4), Stats...............$100 per day per examiner plus, if the examination is conducted outside of Wisconsin, each of the following costs incurred:

DFI-Sec 7.01(3)(d)1. 1. Reasonable transportation costs that may not exceed coach class air fare;

DFI-Sec 7.01(3)(d)2. 2. Ground transportation costs that are on a per day basis may not exceed the daily rate charged by a national car rental agency in that locale for a compact-sized car; and

DFI-Sec 7.01(3)(d)3. 3. If the examination involves any overnight stay, hotel and meal costs not to exceed the per diem amounts prescribed for state agency reimbursement purposes by the office of state employment relations at the time the examination is made.

DFI-Sec 7.01(4) (4) Advertising.

DFI-Sec 7.01(4)(a) (a) Advertising filed with a notice or application under s. 551.303 or 551.304, Stats., or rule adopted under s. 551.201 (7), Stats.   No charge.

DFI-Sec 7.01(4)(b) (b) Advertising, other than advertising specified in par. (a), filed under s. 551.504, Stats.   $10 per item.

DFI-Sec 7.01(5) (5) Other matters.

DFI-Sec 7.01(5)(a) (a) Issuance of a certificate under s. 551.606 (3), Stats., relating to the existence or non-existence of documents or entries on file or contained in the records of the division’s office   $50 plus $1 per page for copies included with the certificate.

DFI-Sec 7.01(5)(b) (b) Application for issuance of an interpretive opinion under s. 551.605 (4), Stats.   $500.

DFI-Sec 7.01(5)(c) (c) Application for exclusion from a definition by order   $200.

DFI-Sec 7.01(5)(d) (d) Small corporate offering registration and prospectus disclosure form on printed Form U-7 or on 3.5 computer diskette, IBM compatible, running Word Perfect 5.0 software with a minimum of 720K capacity   $5.

DFI-Sec 7.01(5)(e) (e) Filing of a notice under s. DFI-Sec 6.05   $200.

DFI-Sec 7.01(6) (6) Delinquent or materially deficient filings.

DFI-Sec 7.01(6)(a) (a) Delinquent filing of broker-dealer or investment adviser registration renewal application or federal covered investment adviser renewal notice filing   $100.

DFI-Sec 7.01(6)(b) (b) Delinquent filing of any material amendment required to be filed under ch. DFI-Sec 4 or 5 to a broker-dealer or investment adviser registration   $100.

DFI-Sec 7.01(6)(c) (c) Delinquent filing of broker-dealer annual financial statements   $100.

DFI-Sec 7.01(6)(d) (d) Delinquent filing of notice of broker-dealer, investment adviser or federal covered investment adviser branch office opening, renewal, relocation or closing   $100.

DFI-Sec 7.01(6)(e) (e) Delinquent filing of agent or investment adviser representative termination notice on Form U-5   $100.  

DFI-Sec 7.01(6)(f) (f) Delinquent filing of broker-dealer agent, agent for issuer or investment adviser representative registration renewal   $100.

DFI-Sec 7.01(6)(g) (g) Delinquent filing of change of broker-dealer or investment adviser designated supervisor   $100.

DFI-Sec 7.01(6)(h) (h) Delinquent filing of investment company report of sales on Form RS-IC   $100.

DFI-Sec 7.01(6)(i) (i) The division may by order require the payment of a fee of no more than $200 for delinquent or materially deficient filings of information or documents required to be filed in connection with the examination of any matter under chs. DFI-Sec 2 to 6.

DFI-Sec 7.01(8) (8) Reports based on computer databases.

DFI-Sec 7.01(8)(a) (a) Writing a computer program for the purpose of creating a report   $20.

DFI-Sec 7.01(8)(b) (b) Hard copy printout of report   $25 for the first 100 pages of printed report or portion thereof, and $0.25 per page beyond 100 pages.

DFI-Sec 7.01(8)(c) (c) Copy of report in text format on 3.5 inch, high-density floppy disk   $5 per disk

DFI-Sec 7.01(8)(d) (d) Processing of a request for a list of agents from the central registration depository   $25 plus accessing costs to the central registration depository.

DFI-Sec 7.01 History History: Cr. Register, December, 1969, No. 168, eff. 1-1-70; r. and recr. Register, August, 1972, No. 200, eff. 9-1-72; emerg. cr. (1) (g), eff. 6-16-74; emerg. am. (1) (a) and (b), eff. 7-5-74; am. (1) (a) and (b), cr. (1) (g) and (h), Register, October, 1974, No. 226, eff. 11-1-74; r. and recr. Register, December, 1977, No. 264, eff. 1-1-78; emerg. cr. (8), eff. 6-19-78; am. (2) (b) and cr. (8), Register, September, 1978, No. 273, eff. 10-1-78; am. (2) (a) and (b), Register, December, 1979, No. 288, eff. 1-1-80; am. (2) (b) and (d), r. (2) (f), renum. (2) (g) to be (2) (f), am. (3) (a), r. (3) (c), renum. (3) (d) to (f) to be (3) (c) to (e) and am., r. and recr. (7), Register, December, 1980, No. 300, eff. 1-1-81; am. (2) (d), renum. (7) and (8) to be (8) and (9), cr. (7), Register, December, 1981, No. 312, eff. 1-1-82; emerg. am. (2) (f), eff. 5-1-82; am. (2) (f), Register, September, 1982, No. 321, eff. 10-1-82; am. (1) (c), (2) (a) and (e), (3) (b) and (5) (b), r. (7), renum. (8) to be (7), Register, December, 1982, No. 324, eff. 1-1-83; cr. (2) (g), Register, August, 1983, No. 332, eff. 9-1-83; am. (3) (e), Register, December, 1983, No. 336, eff. 1-1-84; emerg. am. (2) (e) and r. (2) (g), eff. 1-1-84; am. (2) (e) and r. (2) (g), Register, May, 1984, No. 341, eff. 6-1-84; am. (4) (d) and r. (9), Register, December, 1984, No. 348, eff. 7-1-85; am. (2) (c) and (d), (5) (b), Register, December, 1985, No. 360, eff. 1-1-86; am. (1) (c), (2) (e) and (f), (3) (d) and (e), Register, December, 1986, No. 372, eff. 1-1-87; r. and recr. (1) (intro.), (a) and (b), (2), (3) (a) to (c), (4) to (7), Register, December, 1988, No. 396, eff. 1-1-89; renum. (7) (f) to be (7) (i), cr. (5) (d), (7) (f) to (h) and (8), am. (7) (a) to (c) and (e), r. and recr. (7) (d), Register, December, 1989, No. 408, eff. 1-1-90; r. and recr. (5) (a), cr. (5) (e), Register, December, 1990, No. 420, eff. 1-1-91; am. (5) (d) and (7) (d), Register, December, 1991, No. 432, eff. 1-1-92; am. (5) (d), Register, December, 1992, No. 444, eff. 1-1-93; am. (intro.), (4) (b), (7) (b), r. (3) (c), renum. (3) (d) and (e) to be (c) and (d), cr. (9) (a), (b), (c), Register, December, 1994, No. 468, eff. 1-1-95; am. (7) (c) and (e), r. and recr. (9), Register, December, 1995, No. 480, eff. 1-1-96; corrections in (4) (c) made under s. 13.93 (2m) (b) 7., Stats., Register, March, 1997, No. 495; r. (6), Register, April, 1998, No. 508, eff. 5-1-98; am. (6) (a), (d) and (f), Register, December, 1998, No. 516, eff. 1-1-99; corrections made under s. 13.93 (2m) (b) 1., Stats., Register, December, 1998, No. 516; correction in (4) (c) made under s. 13.93 (2m) (b) 7., Stats., Register, August, 1999, No. 524; CR 01-082: renum. (4) (c) to be (1) (d), Register December 2001 No. 552, eff. 1-1-02; CR 08-077: am. (intro.), (1) (title), (2) (title), (a), (b), (3) (title), (a) to (c) (intro.), (d) (intro.), (4) (a), (b), (5) (a), (b), (6) (a), (b), (d) and (f), r. (1) (c) and (7), cr. (2) (d) Register December 2008 No. 636, eff. 1-1-09; CR 09-056: am. (2) (title) and (c) Register December 2009 No. 648, eff. 1-1-10; CR 10-062: am. (3) (a) Register September 2010 No. 657, eff. 10-1-10.

DFI-Sec 7.02 DFI-Sec 7.02 Advertising.

DFI-Sec 7.02(1) (1) The advertising materials listed in s. 551.504 (1), Stats., that are particularized in any of the following paragraphs and that are intended to be used in connection with the offer or sale of a security in this state are required to be included with the filings made under the respective statute or rule cited:

DFI-Sec 7.02(1)(a) (a) Any sales literature, pamphlet, form letter or other advertising record, other than a prospectus, to be used in an offering for which a registration statement has been filed under s. 551.303 or 551.304, Stats.

DFI-Sec 7.02(1)(b) (b) Any sales literature, pamphlet, form letter or other advertising record, other than a prospectus or offering circular, to be used in an offering for which a notice filing has been made for purposes of use of the registration exemption in s. 551.201 (7), Stats., and rules thereunder.