WI

Wisconsin Blue Sky Laws

Wisconsin regulates securities under the Wisconsin Uniform Securities Law, enforced by the Division of Securities within the Department of Financial Institutions. Wisconsin requires registration or exemption for all securities offered or sold in the state.

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Donald Hateley, Of Counsel for securities law at Acquisition Stars

Donald Hateley

Of Counsel, Securities Law | Acquisition Stars

Donald Hateley serves as Of Counsel to Acquisition Stars for securities law matters. His background includes advising public and private companies on securities transactions, corporate finance, and corporate governance, including public and private equity and debt financings. Admitted to the California bar in 1993, he is a graduate of the University of Southern California Marshall School of Business and Southwestern Law School.

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Wisconsin Securities Regulatory Overview

Regulatory Body
Wisconsin Department of Financial Institutions, Division of Securities
Primary Statute
Wisconsin Uniform Securities Law (Wis. Stat. Chapter 551)

Registration Requirements

Wisconsin allows registration by coordination, qualification, or notice filing. Reg D Rule 506 offerings require Form D notice filing with the Division of Securities. Filing fee is $200.

Key Provisions of Wisconsin Securities Law

Understanding the core regulatory framework in Wisconsin:

1

Securities must be registered before offer or sale unless exempt under the Wisconsin Uniform Securities Law

2

Wisconsin adopted a version of the Uniform Securities Act

3

Anti-fraud provisions apply to all securities transactions

4

The Division of Securities has authority to investigate and bring enforcement actions

Available Exemptions in Wisconsin

Wisconsin provides the following exemptions from full securities registration:

  • Federal covered securities (Reg D Rule 506, Reg A+ Tier 2, exchange-listed) with notice filing
  • Isolated nonissuer transactions
  • Sales to institutional investors
  • Limited offering exemptions for sales to no more than 25 persons in 12 months
  • Government securities

Penalties for Non-Compliance in Wisconsin

Wisconsin imposes civil penalties up to $10,000 per violation, criminal penalties including fines and imprisonment, investor rescission rights, and administrative sanctions.

How Wisconsin Blue Sky Laws Affect Your Transaction

Wisconsin's manufacturing and food processing sectors generate M&A activity. Transactions involving Wisconsin-based shareholders require compliance when stock is part of the consideration. Acquisition Stars works with securities counsel on Wisconsin filings for multi-state deals.

Need Help With a Wisconsin Securities Transaction?

Acquisition Stars handles M&A transactions nationwide and works with securities counsel on blue sky compliance and securities offerings. Senior attorney Alex Lubyansky provides direct counsel on every M&A engagement. We tell you who would handle your matter before any introduction, and you decide whether to proceed.

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Need Help With a Wisconsin Securities Transaction?

Submit your transaction details for a preliminary assessment. We help with the M&A side of the transaction and work with securities counsel on multi-state filings for Reg D, Reg A+, and Reg CF offerings involving Wisconsin.

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Frequently Asked Questions

Common questions about Wisconsin blue sky laws and securities compliance

What is Wisconsin's Reg D filing fee?
Wisconsin charges $200 for Reg D Rule 506 notice filings with the Division of Securities.
Who regulates securities in Wisconsin?
The Division of Securities within the Department of Financial Institutions enforces Wisconsin's securities laws.
Does Wisconsin follow the Uniform Securities Act?
Yes. Wisconsin adopted a version of the Uniform Securities Act as Chapter 551 of the Wisconsin Statutes.

Blue Sky Laws in Nearby States

Illinois Blue Sky Laws IL
Minnesota Blue Sky Laws MN
Iowa Blue Sky Laws IA
Michigan Blue Sky Laws MI
View all 50 state blue sky law guides →

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Need Help With Securities Compliance in Wisconsin?

Our managing partner provides selective M&A counsel and works with securities counsel on transactions involving Wisconsin blue sky law compliance. Submit your transaction details for a preliminary assessment.

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