Used for: Non-issuer transactions through a licensed/registered broker-dealer pursuant to an unsolicited order or offer to purchase
Filing requirement: Self-executing. No filing or Consent to Service of Process is necessary to claim this exemption.
Frequently asked questions:
Q: Does the broker-dealer have to do anything to perfect this exemption?
A: The broker-dealer must establish that the trade was unsolicited.
Q: What must be done by the broker-dealer to establish that the order was unsolicited?
Q: Is there any limitation to the number of transactions that may be effectuated under this exemption?
A: No. There is no limitation on the number of transactions.
History: Predecessor statute Wis. Stat. s. 551.23(2) adopted on January 1, 1970. Identical to Uniform Securities Act of 1956 section 402(b)(3). Renumbered effective January 1, 2009.
Phone: (608) 266-2139