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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.


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