Enforcement Unit

The Division of Securities has an Enforcement Unit whose primary purpose is to enforce the Wisconsin Uniform Securities Law and the Wisconsin Franchise Investment Law by investigating possible violations of those laws. The staff responds to inquiries from the public but also initiates its own investigations. The Enforcement Unit has authority to investigate activities originating inside as well as outside of Wisconsin, whether involving licensed or unlicensed persons or entities. All licensed firms and individuals are subject to certain ethical and industry standards, and must comply with both federal and State laws and regulations. The Division’s staff has the authority to examine the books and records of any securities registrant or licensee and to subpoena witnesses (whether or not a registrant or licensee).

The staff works closely with local, State, and federal law enforcement agencies. In doing so, it relies on the cooperation and input of the investing public. The Enforcement Unit consists of attorneys and investigators trained to handle the complex issues encountered in securities and franchise matters.

Although the Unit cannot act as a private attorney for investors, it does, through the investigation of complaints, seek to end violation of the securities and franchise laws and prevent future violations by means of civil and administrative actions. The Unit also makes referrals to criminal enforcement agencies when appropriate.