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Securities Administrative Orders Issued

The following orders were issued by the Division pursuant to Wis. Stat. §551.605 with respect to various securities filing requirements under the Wisconsin Uniform Securities Law and may modify or supplement the requirements of Chapter 551. For orders relating to enforcement matters, see below.

Crowdfunding Orders

Adobe PDF Document Order Permitting Certain Advertising under Wis. Stat. §551.202(27)

Adobe PDF Document Order Regarding Periodic Reporting

Adobe PDF Document Order Regarding Commissions

Exemption Orders

Adobe PDF Document Order Designating Nationally Recognized Securities Manual

Adobe PDF Document Private Fund Adviser Exemption Order

Reg A Orders

Adobe PDF Document Order Regarding Regulation A Tier 2 Notice Filing

Reg D Orders

Adobe PDF Document Reg D Delinquent Filing Order

Enforcement Orders

The following orders were issued by the Division to enforce various provisions of the Wisconsin Uniform Securities Law as found in Chapter 551. Signed copies of Petitions for Order and Orders associated with the following persons or entities are available in the PDF format.

See Links to Archives below

James Benjamin Hobbins & Lake Resources Group Inc. - DFI File No. S-221606 (EX) – Summary Order to Cease and Desist Including Civil Penalties was issued against James Benjamin Hobbins and Lake Resources Group Inc. for the following violations:
* In connection with the offer, sale, or purchase of a security, they omitted material facts necessary to make the statements not misleading to investors:

  • They terminated a key employee listed in their offering documents.
  • They received non-final rejection notices from the US Patent and Trademark Office regarding their fishing lure platform patents.
  • Their line of credit was frozen by their banking institution.

Orders issued June 21, 2018.

 

MFB Investments, LLC, Malorie F. Berceau, Travis J. Ebert and Martin P. Berceau - DFI File No. 235728 (EX) – On October 27, 2017, the administrator issued summary orders to cease and desist including restitution and civil penalties against MFB Investments, LLC, Malorie F. Berceau, Travis J. Ebert, and Martin P. Berceau (together "the Respondents"). On November 27, 2017, the Respondents timely petitioned for a hearing. On April 6, 2018, the Division and the Respondents entered into the following consent orders:

 

James A. Valentine - DFI File No. S-238222 (EX) – Summary Order to Cease and Desist was issued against James A. Valentine for the following violations:

  • James A. Valentine violated Wis. Stat. § 551.301 by offering unregistered securities to a Wisconsin resident.
  • James A. Valentine violated Wis. Stat. § 551.501(2) by, in connection with the offer and sale of securities, directly or indirectly, making untrue statements of material fact and omitting to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.
  • James A. Valentine violated Wis. Stat. § 551.501(3) by conducting his businesses, in connection with the offer and sale of securities, so as to operate a fraud and deceit upon a Wisconsin resident.

Order issued on March 22, 2018.

 

Becker, Jackson & Reed, LLC, Alpine Family Entertainment Parks 1, LLC (a/k/a Alpine Parks), Alpine Entertainment, Inc., Judith Jackson, Eugene Hagen, and Johnathan Plimpton - DFI File No. S-236575 (EX) – Summary Order to Cease and Desist and for Revocation and Notice of Order for Restitution and Civil Penalties were issued against Becker, Jackson & Reed, LLC, Alpine Family Entertainment Parks 1, LLC (a/k/a Alpine Parks), Alpine Entertainment, Inc., Judith Jackson, Eugene Hagen, and Johnathan Plimpton for the following violations:

  • Becker, Jackson & Reed violated Wis. Stat. § 551.401(1) by transacting business as a broker-dealer in Wisconsin without being registered as a broker-dealer under Ch. 551 or exempted from registration as a broker-dealer under Wis. Stat. § 551.401(2).
  • Eugene Hagen and Johnathan Plimpton violated Wis. Stat. § 551.402(1) by transacting business as agents of a broker-dealer in Wisconsin without being registered as agents under Ch. 551 or exempted from registration as agents under Wis. Stat. § 551.402(2).
  • All Respondents violated Wis. Stat. § 551.301 by offering and selling unregistered securities in this state to a Wisconsin investor.
  • All Respondents violated Wis. Stat. § 551.501(2) by, in connection with the offer and sale of securities, directly or indirectly, making untrue statements of material fact and omitting to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, including by making untrue statements about how investor funds would be used and the existence of a fictitious entertainment park project.
  • All Respondents violated Wis. Stat. § 551.501(3) by conducting their businesses, in connection with the offer and sale of securities, so as to operate a fraud and deceit upon a Wisconsin investor.

Orders issued on February 27, 2018.

 

Robert Herkowski - Case No. S-237857 (EX) – A Consent Order to Cease and Desist was issued against Robert Herkowski for the following violations:

  • Herkowski violated Wis. Stat. § 551.404(1) by transacting business as an investment adviser representative in Wisconsin without being registered under Ch. 551 or exempted from registration under Wis. Stat. 551.404(2).
  • Herkowski violated Wis. Stat. § 551.501(2) when, in connection with the offer, sale, or purchase of securities, he made untrue statements of material fact and omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.
  • Herkowski violated Wis. Stat. § 551.501(3) when, in connection with the offer, sale, or purchase of securities, he engaged in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.
  • Herkowski violated Wis. Stat. § 551.502(1)(a) when in the course of advising others for compensation, either directly or indirectly, as to the value of securities or the advisability of investing in, purchasing, or selling securities, he employed a device, scheme, or artifice to defraud another person.
  • Herkowski violated Wis. Stat. § 551.502(1)(b) when in the course of advising others for compensation, either directly or indirectly, as to the value of securities or the advisability of investing in, purchasing, or selling securities, he engaged in an act, practice, or course of business that operated or would operate as a fraud or deceit upon another person.

Order issued on February 1, 2018.

 

Magnum Options a/k/a Hampshire Capital Ventures, Ltd., Dennis Collins, and Manford Martin Mponda - Case No. S-233996 (EX) – Summary Cease and Desist Orders were issued against Magnum Options a/k/a Hampshire Capital Ventures, Ltd., Dennis Collins, and Manford Martin Mponda for the following violations:

  • Magnum Options violated Wis. Stat. § 551.401(1) by transacting business as a broker-dealer in Wisconsin without being registered under Ch. 551 or exempted from registration under Wis. Stat. § 551.401(2).
  • Dennis Collins violated Wis. Stat. § 551.402(1) by transacting business as an agent of a broker-dealer in Wisconsin without being registered under Ch. 551 or exempted from registration under Wis. Stat. § 551.402(2).
  • Magnum Options and Manford Martin Mponda violated Wis. Stat. § 551.402(4) by employing or associating with an agent who transacts business in this state without being registered under Ch. 551 or exempted from registration under Wis. Stat. § 551.402(2).
  • Magnum Options and Dennis Collins violated Wis. Stat. § 551.301 by offering and selling unregistered securities in this state to a Wisconsin investor.
  • All Respondents violated Wis. Stat. § 551.501(3) by conducting their businesses, in connection with the offer and sale of securities, so as to operate a fraud and deceit upon a Wisconsin investor.

Orders issued on January 11, 2018.

 

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