Discretionary Trading Accounts
Managed Trading Accounts
Statute: § 551.203, Wis. Stats.
Administrative Code: § DFI-Sec 2.02(9)(j), Wis. Adm. Code.
Used for: Offers or sales of a discretionary or managed trading account involving discretion or management provided by a brokerdealer licensed in this state or by an investment adviser licensed in this state.
Filing requirement: Self-Executing. No filing or Consent to Service of Process is necessary in order to claim this exemption.
Frequently asked questions:
Q: Is this exemption selfexecuting?
A: Yes. No filing or Consent to Service of Process is required.