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Securities Administrative Orders Issued 2015

Signed copies of  Petitions for Order and Orders associated with the following persons or entities are available in the PDF format.


See the Archives below.


Jean Walsh Josephson- Case No. S-233148(LX) - An Order to Suspend Broker-Dealer Agent Registration was issued against Jean Walsh Josephson for violation of Wis. Stat. § 551.412(4)(d). A registrant may be suspended if she is enjoined or restrained by a court of competent jurisdiction in an action instituted by a state from engaging in or continuing an act, practice or course of business involving an aspect of a business involving securities, commodities, investments, franchises, insurance, banking or finance.

Orders were issued on August 20, 2015


 

Warren W. Wendt and Intelligent Capital Investments LLC - Case No. S-220795 (EX) Respondents consented to a Consent Cease and Desist Order against respondents for violation of Wis. Stats § 551.41 by making misrepresentations and omissions in the sale of securities in Wisconsin and employing a device, scheme and artifice to defraud by conduct described in Wis. Admin. Code § DFI-Sec. 6.01.

Orders were issued on August 14, 2015


 

Mark P Welhouse and Welhouse & Associates Inc.- Case No. S-231591(LX) - An Order to Suspend Investment Adviser and Representative Registration was issued against Respondents for violation of Wis. Stat. § 551.412(4) (q), pursuant to Wis. Stat. § 551.412 and Wis. Adm. Code § DFI-Sec 5.09. The suspension is effective through the conclusion of both the Division’s open investigation and the SEC’s Administrative Proceeding File No. 3-16657.

Orders were issued on July 30, 2015


 

Robert D Herget and Herget Group LLC - Case No. S-227158 – Order to Cease and Desist and to Deny Agent and Investment Adviser Registration Application was issued against Respondents for conduct in violation of Wis. Stat. § 551.501 (and failure to disclose the investigation of this misconduct in Herget’s application for registration), pursuant to Wis. Stats. §§ 551.604 and 551.412. The Respondents are ordered to cease and desist from further offers of unregistered securities in Wisconsin, revoking exemptions under Chapter 551, denying Herget’s application for registration as a securities agent and investment adviser representative, as well as ordering Respondents to cease and desist from other further violation of Chapter 551, and ordering restitution to the Wisconsin investors and a civil penalty.

Orders were issued on July 14, 2015


 

Lawrence M Forman - Case No. S-231319(EX) – A Consent Cease and Desist Order was issued against Lawrence M Forman for violation of Wis. Stats § 551.401 by transacting business in Wisconsin as a broker-dealer without registration and for violation of Wis. Stats § 551.501 by making untrue statements of fact in connection with the offer, sale or purchase of securities.

Orders were issued on July 6, 2015


 

Michael P Sirianni - Case No. S-226064(EX) - A Cease and Desist Order was issued against Michael P Sirianni for violation of Wis. Stats § 551.401, by transacting business in Wisconsin as a broker-dealer without registration and Wis. Stats. § 551.501(2) by omitting to state material facts necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading, in connection with the offer and sale of securities to a person in Wisconsin as set forth above.

Orders were issued on June 30, 2015


 

Pivotpoint Advisors, LLC and John M. Norquay - Case No. S-228781(EX) – A Summary Order was issued against Pivotpoint Advisors, LLC and John M Norquay for violations of Wis. Stat. §551.301 for selling an unregistered promissory note and of Wis. Stat. §551.501(2) for omitting to state material facts necessary in order to make the statements, in light of the circumstances under which they were made, not misleading. The Respondents also violated various sections of the Wisconsin Administrative Code as it applies to registered investment advisors. Respondents are suspended for 30 calendar days, and shall pay restitution of $2,521.61 and a civil penalty of $10,000.00.

Orders were issued on June 3, 2015


Effective January 14, 2016, this Summary Order was superseded by a Consent Cease and Desist Order and no longer remains in effect.
To view the superseding Consent Order, navigate to "2016 Administrative Orders."

 

Robert D. Herget- Case No. S-227158 – Order of Denial of Agent & Investment Adviser Registration Application is issued pursuant to Wis. Stat. § 551.412(1), under which an agent’s application for registration may be denied based on a false or misleading material fact and if it is in the public interest.

Orders were issued on May 11, 2015


 

Jace T. McDonald, Peter P. Viater and Derek M. Anderson- Case No. S-230672(EX). A Summary Cease and Desist Order including Disgorgement and Civil Penalties was issued against McDonald, Viater and Anderson for violations of Wis. Stat. § 551.501(2) for misrepresentations and /or omissions made in connection with the offer and sale of life settlement securities in Wisconsin. Respondents also violated Wis. Stat. § 551.501(3) by offering and selling unregistered securities in Wisconsin, and Wis. Stat. § 551.402 by transacting business as unregistered agents. McDonald and Anderson further violated Wis. Stat. § 551.403 by transacting business as unregistered investment advisers by undertaking to act with discretion in the account of at least one investor using a limited power of attorney. McDonald and Anderson also violated Wis. Stat. § 551.502 by acting as investment advisers for at least one investor without disclosing the inherent conflicts of interest. This Order also withdrew without prejudice the previous Order dated April 10, 2015 in this matter.

Orders were issued on May 15, 2015


 

Conestoga Settlement Services, LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC, Michael C McDermott, Jace T McDonald, Peter P Viater and Richard C Nettleton- Case No. S-230672(E). Summary Cease and Desist including Restitution was issued for violation of Wis. Stat. § 551.501(2), in connection with the offer and sale of securities to persons in Wisconsin. Respondents omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, including but not limited to the actions taken against Conestoga and its principals by securities regulators in Texas, Utah and California and that in at least two instances Conestoga has had to take action against insurance companies to enforce its right to payment on matured policies.

Orders were issued on April 10, 2015


    This order was withdrawn without prejudice as to Conestoga Settlement Services, LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC, Michael C. McDermott, and Richard C. Nettleton and withdrawn and replaced by the Summary Cease and Desist Order including Disgorgement and Civil Penalties against Jace T. McDonald, Peter P. Viater and Derek M. Anderson on May 15, 2015.

 

Rockwell Management LLC and Frank O Davies - Case No. S-230378(EX). A Summary Cease and Desist Order was issued for violation of Wis. Stat. § 551.301 by offering and selling unregistered securities in Wisconsin. Respondents also violated Wis. Stat. §551.501(2) by making misrepresentations and/or omissions in connection with the offer and sale of securities in Wisconsin.

Orders were issued on March 16, 2015


 

Robert E Fiesler, Lance P Trantum, JRM Energy Inc., JNA Energy Inc. and JNA Energy I Inc. - Case No. S-227541(EX). A Summary Order to Cease and Desist was issued against Respondents for violations of Wis. Stat. §551.301 by offering and/or selling unregistered securities in Wisconsin. Fiesler and Trantum violated Wis. Stat. §551.402 by transacting business in Wisconsin as a securities agent without registration, and JRM Energy Inc., JNA Energy Inc. and JNA Energy I Inc.,. by employing unregistered agents. Respondents violated Wis. Stats. § 551.501(2) by omitting to state material facts necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading and Wis. Stats. § 551.501(3) by engaging in an act, practice or course of business that operates or would operate as a fraud or deceit upon another person.

Orders were issued on March 12, 2015


 

Lawrence Energy LLC, Kenneth P Lawrence and Robert Shaddix - Case No. S-222744 (EX). Summary Cease and Desist Order was issued against all respondents for violation of Wis. Stat. § 551.301 by offering and selling unregistered securities in Wisconsin. Kenneth P Lawrence and Robert Shaddix also violated Wis. Stat. §551.402(2) by transacting securities business in Wisconsin as agents for issuer without registration. All respondents violated Wis. Stat. §551.501(2) by making misrepresentations and/or omissions in connection with the offer and sale of securities in Wisconsin.

Orders were issued on March 12, 2015


 

Extreme Franchise Corporation and James E Meyer - Case No. S-217437(EX). Orders of Prohibition (Consent) were issued for violation of Wis. Stat. §553.21 which states that no person may sell in Wisconsin any franchise unless the franchise has been registered under this chapter or is exempt under Wis. Stats. §§ 553.23, 553.235 or 553.25. Extreme Franchise Corporation and James E Meyer violated Wis. Stats. §553.27 by selling a franchise in Wisconsin without providing a copy of an offering circular to the prospective franchisee within at least ten business days prior to the execution by the prospective franchisee of any binding franchise or other agreement, or at least ten business days prior to the receipt of any consideration, whichever first occurs.

Orders were issued on March 4, 2015


 

Leland Energy, Inc., Leland Tennessee Holdings, Inc., Leland Energy Fund II, LLP, Stephen M Thompson and Michael A Rava - File No. S-225797 (EX). Summary Cease and Desist Orders were issued for violations of the Wisconsin Statutes Ch. 551 by Thompson and the Leland respondents by hiring an unregistered agent to offer unregistered securities in Wisconsin in willful violation of an Order of Prohibition and Revocation issued in 2002. Michael A Rava violated Wis. Stat. Ch. 551 by offering unregistered securities in Wisconsin as an unregistered securities agent, asking the Wisconsin resident to provide an address in a different state to avoid the restrictions of the prior order.

Orders were issued on February 17, 2015


 

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