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Our Offices will be closed on: Wednesday, December 24th, and Thursday, December 25th, 2014

The Department of Financial Institutions will be closed on Wednesday, December 24th, and Thursday, December 25th, 2014.

Although the Agency will be closed to the public, Internet Web Services will still be available for individuals who are accessing or filing documents over the Internet. For additional information regarding documents that can be filed or processed over the Internet for a specific program, please visit that program’s information on our web site. There will be no mail delivery to the Department on holidays or weekends. There also will be no staff to accept courier deliveries.

To see future days that the Agency will be closed,
click 2014 Closure Dates. (PDF: 69 KB / 1 page)

DFI announces launch of streamlined
electronic filing depository for investors

MADISON – The Wisconsin Department of Financial Institutions (DFI) today announced the launch of the online Electronic Filing Depository (EFD) to enhance the efficiency of the regulatory filing process for certain exempt securities offerings.

"We are very pleased to provide the EFD system to create an efficient, streamlined system for state Form D filing requirements. Issuers will benefit from this uniform and effective regulatory tool, which also strengthens investor protection by improving the transparency of Form D filings," said Patricia Struck, Administrator of DFI’s Division of Securities.

The full press release may be found at www.wdfi.org/Newsroom/Press.

New business entity filings
tracking 5.1% ahead of prior year

MADISON – The number of new business entities formed in Wisconsin in the first 11 months of 2014 grew by 5.1% compared to the prior year, according to data compiled by the Department of Financial Institutions (DFI). New business filings totaled 36,143, compared to 34,388 in the same period in 2013.

The business formation data is compiled by DFI, which is the filing office for the creation of business entities in the state. DFI tracks new business entity creation on a monthly basis and posts the data on its website.

The full report may be found at www.wdfi.org/corporations/HistoricalStatistics.htm.

Division of Securities staffers discuss
crowdfunding at Small Business Owner Symposium

FITCHBURG – Joe Friesen, Securities Examiner for DFI’s Division of Securities, was a presenter at the UW School of Business Small Business Owner Symposium on Dec. 4 at the BioPharmaceutical Technology Center in Fitchburg. Co-presenting with Friesen was Deborah Fabritz, Director of Professional Registration & Compliance with the Division of Securities. Friesen and Fabritz discussed the basics of crowdfunding, which is a way for businesses to raise capital by accepting investments of small-dollar amounts from a larger number of people, typically via the Internet. A state law that took effect June 1, 2014, allows a Wisconsin business to raise up to $1 million from state investors through crowdfunding portals, referred to in the legislation (2013 Wisconsin Act 52) as "internet site operators." To begin crowdfunding, issuers and Internet site operators are required to file with the Division of Securities.

Nine DFI employees honored
with length-of-service awards

MADISON – Nine DFI employees with a combined 245 years of state government experience were presented length-of-service awards on Dec. 1. The honorees were commended by Secretary Peter Bildsten and Deputy Secretary Ray Allen for their dedication to public service. Those honored were, front row, left to right: Jennifer Davenport, Mortgage Banking, 20 years; Molly O’Connell, Division of Corporate and Consumer Services, 35 years; Cindy Zaemisch, Office of Credit Unions, 35 years; Mary Everson, Division of Corporate and Consumer Services, 20 years; Dawn Oashgar, Division of Administrative Services and Technology, 25 years; and Teresa Walker, Office of Financial Literacy, 30 years. Back row, left to right: Deputy Secretary Allen; Tim Sandee, Division of Administrative Services and Technology, 30 years; Secretary Bildsten; and Chris Green, Chief Legal Counsel, 20 years. Not present: Cathy Mickelson, Division of Corporate and Consumer Services, 30 years.

Lending up 6.2%, net income 2.4%
at Wisconsin-chartered banks

MADISON – Total lending grew by 6.2% and net income rose 2.4% at Wisconsin's statechartered banks in the three quarters ending Sept. 30, 2014, compared to the same period of a year earlier, according to data released today by the Federal Deposit Insurance Corp.

"Wisconsin banks continue to get stronger by the quarter," said Peter Bildsten, Secretary of the Wisconsin Department of Financial Institutions (DFI), the agency that oversees state-chartered financial institutions. "It’s especially encouraging to see healthy year-over-year loan growth, with capital at near-record levels and loan portfolios continuing to improve."

The full press release may be found at www.wdfi.org/Newsroom/Press.