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Securities Administrative Orders Issued

Signed copies of  Petitions for Order and Orders associated with the following persons or entities are available in the PDF format.


See the Archives below.


Robert D. Herget- Case No. S-227158 – Order of Denial of Agent & Investment Adviser Registration Application is issued pursuant to Wis. Stat. § 551.412(1), under which an agent’s application for registration may be denied based on a false or misleading material fact and if it is in the public interest.

Orders were issued on May 11, 2015


 

Jace T. McDonald, Peter P. Viater and Derek M. Anderson- Case No. S-230672(EX). A Summary Cease and Desist Order including Disgorgement and Civil Penalties was issued against McDonald, Viater and Anderson for violations of Wis. Stat. § 551.501(2) for misrepresentations and /or omissions made in connection with the offer and sale of life settlement securities in Wisconsin. Respondents also violated Wis. Stat. § 551.501(3) by offering and selling unregistered securities in Wisconsin, and Wis. Stat. § 551.402 by transacting business as unregistered agents. McDonald and Anderson further violated Wis. Stat. § 551.403 by transacting business as unregistered investment advisers by undertaking to act with discretion in the account of at least one investor using a limited power of attorney. McDonald and Anderson also violated Wis. Stat. § 551.502 by acting as investment advisers for at least one investor without disclosing the inherent conflicts of interest. This Order also withdrew without prejudice the previous Order dated April 10, 2015 in this matter.

Orders were issued on May 15, 2015


 

Conestoga Settlement Services, LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC, Michael C McDermott, Jace T McDonald, Peter P Viater and Richard C Nettleton- Case No. S-230672(E). Summary Cease and Desist including Restitution was issued for violation of Wis. Stat. § 551.501(2), in connection with the offer and sale of securities to persons in Wisconsin. Respondents omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, including but not limited to the actions taken against Conestoga and its principals by securities regulators in Texas, Utah and California and that in at least two instances Conestoga has had to take action against insurance companies to enforce its right to payment on matured policies.

Orders were issued on April 10, 2015


    This order was withdrawn without prejudice as to Conestoga Settlement Services, LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC, Michael C. McDermott, and Richard C. Nettleton and withdrawn and replaced by the Summary Cease and Desist Order including Disgorgement and Civil Penalties against Jace T. McDonald, Peter P. Viater and Derek M. Anderson on May 15, 2015.

 

Rockwell Management LLC and Frank O Davies - Case No. S-230378(EX). A Summary Cease and Desist Order was issued for violation of Wis. Stat. § 551.301 by offering and selling unregistered securities in Wisconsin. Respondents also violated Wis. Stat. §551.501(2) by making misrepresentations and/or omissions in connection with the offer and sale of securities in Wisconsin.

Orders were issued on March 16, 2015


 

Lawrence Energy LLC, Kenneth P Lawrence and Robert Shaddix - Case No. S-222744 (EX). Summary Cease and Desist Order was issued against all respondents for violation of Wis. Stat. § 551.301 by offering and selling unregistered securities in Wisconsin. Kenneth P Lawrence and Robert Shaddix also violated Wis. Stat. §551.402(2) by transacting securities business in Wisconsin as agents for issuer without registration. All respondents violated Wis. Stat. §551.501(2) by making misrepresentations and/or omissions in connection with the offer and sale of securities in Wisconsin.

Orders were issued on March 12, 2015


 

Extreme Franchise Corporation and James E Meyer - Case No. S-217437(EX). Orders of Prohibition (Consent) were issued for violation of Wis. Stat. §553.21 which states that no person may sell in Wisconsin any franchise unless the franchise has been registered under this chapter or is exempt under Wis. Stats. §§ 553.23, 553.235 or 553.25. Extreme Franchise Corporation and James E Meyer violated Wis. Stats. §553.27 by selling a franchise in Wisconsin without providing a copy of an offering circular to the prospective franchisee within at least ten business days prior to the execution by the prospective franchisee of any binding franchise or other agreement, or at least ten business days prior to the receipt of any consideration, whichever first occurs.

Orders were issued on March 4, 2015


 

Leland Energy, Inc., Leland Tennessee Holdings, Inc., Leland Energy Fund II, LLP, Stephen M Thompson and Michael A Rava - File No. S-225797 (EX). Summary Cease and Desist Orders were issued for violations of the Wisconsin Statutes Ch. 551 by Thompson and the Leland respondents by hiring an unregistered agent to offer unregistered securities in Wisconsin in willful violation of an Order of Prohibition and Revocation issued in 2002. Michael A Rava violated Wis. Stat. Ch. 551 by offering unregistered securities in Wisconsin as an unregistered securities agent, asking the Wisconsin resident to provide an address in a different state to avoid the restrictions of the prior order.

Orders were issued on February 17, 2015


 

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