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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 professional registration and 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

Professional Registration Orders

Adobe PDF Document Order Requiring Compliance with New FINRA Examination Requirements

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

 

Scales Dynasty, LLC & Shawnvel Scales – Case No. S-239215 (EX) – a Summary Order to Cease and Desist and for Revocation & Notice of Proposed Order for Restitution and Civil Penalties was issued against Scales Dynasty, LLC & Shawnvel Scales for the following violations:

  • Scales violated Wis. Stat. § 551.402(1) by transacting business as an agent of an issuer in Wisconsin without being registered as an agent 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.
  • Scales Dynasty, LLC violated Wis. Stat. § 551.402(4) when it engaged in the offering and selling of securities in Wisconsin by employing an agent, Shawnvel Scales, who was not registered under Wis. Stat. § 551.402(1) nor exempted from registration under Wis. Stat. § 551.402(2).
  • The 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, the existence of fictitious tax lien certificates, and failing to disclose Scales’ criminal history.
  • The Respondents violated Wis. Stat. § 551.501(1) by conducting their business, in connection with the offer and sale of securities, so as to operate a fraud and deceit upon the investors.

Order issued January 9, 2020

 

Frank Lee & FM Capitals aka Genum Ltd. – Case No. S-237859 (EX) – a Summary Order to Cease and Desist was issued against Frank Lee and FM Capitals aka Genum Ltd. for the following violations:

  • FM Capitals 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).
  • Frank Lee 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).
  • FM Capitals and Frank Lee 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.

Order issued January 2, 2020

 

Jamie A. Ver Hagen (d/b/a Jamie’s Shoes) – Case No. S-240297 (FX) – a Summary Order to Cease and Desist and Revoking Franchise Registration was issued against Jamie A. Ver Hagen (d/b/a Jamie’s Shoes) for the following violations:

  • The Respondent violated Wis. Stat. § 553.26(1) when she failed to upload an offering circular in a form required by Wis. Stat. § 553.27(4) with her franchise registration for Jamie’s Shoes.
  • The Respondent violated Wis. Stat. § 553.26(1) when she failed to pay the proper filing fee for the franchise registration for Jamie’s Shoes.

Order issued January 2, 2020

 

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