Debt Securities Rated in Top 4 Rating Categories
Foreign Issuer Margin Security
Secondary Trading Exemption by Filing
Toronto Stock Exchange and TSX Venture Exchange
Used for: Non-issuer transactions by or through a broker-dealer registered or exempt from registration in Wisconsin
Wis. Stat. s. 551.202(2), (3), (5) and (23): Self-executing. No filing or Consent to Service of Process is necessary to claim these exemptions.
Wis. Admin. Code. s. DFI-Sec 2.02(9)(o) under Wis. Stat. s. 551.203: Notice Filing.
- Filing fee: $200, as set forth at Wis. Admin. Code s. DFI-Sec 7.01(2)(b) made payable to Wisconsin DFI-Division of Securities.
- Form required: There is no required form. File a cover letter, the fee, and the required exhibits at least 10 days prior to the offering in this state, referencing the statute or rule section under which the notice is filed.
- Exhibits required: A copy of the prospectus, offering document, all other material to be delivered to offerees in connection with the transaction, and all other information the Division of Securities may require after the filing. If advertising is published or circulated in connection with the transactions or the securities underlying the transactions for which this exemption is claimed, it must be filed with the division and may not be used unless and until the division has allowed its use, unless exempt from this requirement under Wis. Admin. Code s. DFI-Sec 7.02(1).
- Review time: 10 calendar days, unless extended pursuant to Wis. Admin. Code s. DFI-Sec 2.03(2).
Related considerations: Wis. Stat. s. 551.202(1)
[relating to "isolated non-issuer transactions" and "unsolicited transactions"] are also secondary trading exemptions, but generally are not labeled as such. (See the separate information summaries for those exemptions in the Exemption Menu
.) The exemptions set forth here are those most commonly termed "Secondary Trading Exemptions."
Frequently asked questions:
A: It is not uncommon for the division to request information relating to the breadth and depth of the trading market for the security.
History: Predecessor statute Wis. Stat. s. 551.23(3)(a) to (d) adopted January 1, 1970. Repealed and recreated effective January 1, 2009.
Phone: (608) 266-2139