Abbreviations

UPDATED FOR CHANGES EFFECTIVE JANUARY 1, 2000

Act:

The Investment Advisors Act of 1940, the federal law governing the regulation of investment advisers.

 

Code:

The Wisconsin Administrative Code which comprises the rules of the Division of Securities.

 

CRD:

Central Registration Depository; the NASD-operated clearinghouse for broker-dealer and securities agent applications and source of information on qualification examinations.

 

Division:

Wisconsin Department of Financial Institutions Division of Securities.

 

DFI-Sec:

Section of the Wisconsin Administrative Code which comprises the rules of the Division of Securities; followed by the number of the section, sub-section and paragraph. In this case, sections 1 on definitions, 5 governing investment advisers and 7 establishing fees.

 

NASD/NASDR:

National Association of Securities Dealers, the self-regulatory agency of broker-dealers and agents; also administers all qualification exams.

 

SEC:

The U.S. Securities & Exchange Commission, the federal regulator of the securities industry.

 

Series 63:

Exam used mainly for securities agent state licensing qualification.

 

Series 65:

Exam used for qualification of investment advisers and investment adviser representatives.

 

Series 66:

Combines testing and qualification of both securities agents and investment advisers.

 

UCSLE:

Uniform Combined State Law Examination; Series 66 combines testing and qualification of both securities agents and investment advisers.

 

UIALE:

Uniform Investment Adviser Law Examination; Series 65 exam used for qualification of investment advisors and investment adviser representatives.

 

USASLE:

Uniform Securities Agent State Law Examination; Series 63 exam used mainly for securities agent state licensing qualification.

 

Wis. Adm. Code:

Wisconsin Administrative Code; comprises the rules of the Division of Securities.

 

Wis. Stats.:

Wisconsin Statutes; in this case, the Wisconsin Uniform Securities Law, Chapter 551.