Ch. DFI-Sec 1 NoteNote: Chapter SEC 1 was renumbered Chapter DFI-Sec 1 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.

DFI-Sec 1.01DFI-Sec 1.01 Short title. These rules shall be known and may be cited as the “rules of the division of securities.”

DFI-Sec 1.02DFI-Sec 1.02 Definitions. In ch. 551, Stats., and chs. DFI-Sec 1 to 36 and unless the context otherwise requires:

DFI-Sec 1.02(1)(1) With respect to advertising as referenced in s. 551.202 (24) and (25), Stats., and s. DFI-Sec 2.01 (4) and (5):

DFI-Sec 1.02(1)(a)(a) “Publication” means:

DFI-Sec 1.02(1)(a)1.1. Advertising printed in any newspaper, magazine, periodical or other publication and mailed or delivered to its subscribers or addressees, or communicated by radio, television or other electronic means, including via the internet; or

DFI-Sec 1.02(1)(a)2.2. Seminars or meetings whose attendees have been invited by any general solicitation or general advertising;

DFI-Sec 1.02(1)(b)(b) “Circulation” means advertising mailed, delivered or communicated in substantially similar form to more than 10 persons in this state (exclusive of persons designated under s. 551.102 (11), Stats.), except that the distribution of written offering materials in the form of a confidential memorandum or other offering or disclosure document in connection with an offering exempt from registration under s. 551.202 (13) (a), (am) and (24), Stats., or s. DFI-Sec 2.029 shall not be deemed circulation; and

DFI-Sec 1.02(2)(a)(a) A pension or profit sharing trust, when effecting transactions for its own account.

DFI-Sec 1.02(2)(b)(b) A registered investment adviser or federal covered investment adviser when placing orders for the accounts of its clients in accordance with rules prescribed by the division, provided that no commission or other remuneration is received by the investment adviser solely for placing the orders.