Securities

The Division of Securities registers and monitors the activities of broker-dealers, securities agents, investment advisers, and investment adviser representatives. The Division also conducts field audits of broker-dealer and investment advisers and investigates customer complaints. When violations of the securities law are detected, the Division initiates the appropriate administrative, injunctive, or criminal action. There are two bureaus within the Division: Enforcement and Professional Registration & Compliance.

Check before you invest! To offer securities or investment advice in Wisconsin, the salesperson and firm must be registered (or exempt from registration). To verify someone’s registration status, call the Division of Securities or go to FINRA BrokerCheck.

Have a question? Call us

If you have a question about a broker-dealer, securities agent, investment adviser or investment adviser representative, call the Division of Securities at (608) 266-2139, Monday through Friday between 8 a.m. and 4:30 p.m.

Highlights

Opioid Addiction Advisory

DFI offers two new resources to help raise awareness of how the opioid crisis impacts investment professionals and their clients. The first is a guide to help investment professionals understand the many ways opioid use disorder might affect their clients, how to spot signs of financial exploitation, and how to help clients affected by opioid abuse. The second resource is a checklist of questions financial professionals can use to help start a conversation with clients about the financial ramifications of opioid addiction.
Opioid Addiction Brochure

Opioid Addiction Conversation Starters
Wisconsin Accepts Electronic Filing Through EFD

The Wisconsin Division of Securities is now accepting online filings for both Regulation D filings and unit investment trusts (UITs) through the North American Securities Administrators Association’s (NASAA) Electronic Filing Depository (EFD) System. Developed by NASAA, the EFD System was launched in 2014 and was initially used to facilitate the filing of Form D for Regulation D, Rule 506 offerings with state securities regulators and to pay related fees. Wisconsin is among a growing number of states participating in the online filing of Form NF-UIT and the 48 states participating in the online EFD system for Form D. The EFD website also enables the public to search and view, free of charge, filings made through EFD with state securities regulators. EFD is available at: https://www.efdnasaa.org.
Cross-Selling Advisory

Cross-selling by banks and investment firms is a growing concern for securities regulators. At its best, this is a way for banks or investment firms to inform clients about the range of financial products and services available. At its worst, this common sales technique can take advantage of loyal clients.
Cross Selling Advisory
Robo Adviser Advisory

If Wisconsin investors are considering a robo-adviser, they should be sure to examine all available information to make sure they understand the risks and benefits provided by this type of advice.
Robo Adviser Advisory
Crypto Coin Advisories

Not every ICO or cryptocurrency-related investment is fraudulent, but investors should approach any initial coin offering or cryptocurrency-related investment product with extreme caution.
Cryptocurrency Advisory

ICO Advisory
Binary Options Investor Advisory

Investors should be cautious about schemes related to binary options amid the proliferation of online platforms and a growing number of related investor complaints.
Click here for the full Advisory
Franchise Filing Important Notice

To promote sustainability and efficiency, all franchise registrations and amendments must be filed online with the Division.
Click Here for Online Franchise Filings
Financial Service Providers

This Informed Investor Advisory provides basic information on types of financial services professionals and their relationship with you as a client.
Understanding different roles of financial professionals
Resources to Search for Financial Professionals

To check on the registration status of an agent or broker-dealer, you may use FINRA BrokerCheck.

You may check on an investment adviser or investment adviser representative at the Investment Adviser Public Disclosure website.