July 2015
The Wisconsin Division of Securities registers and monitors the activities of broker-dealers, securities agents, investment advisers, and investment adviser representatives. It also conducts field audits and investigates complaints and when violations are detected, it initiates the appropriate administrative, injunctive, or criminal action. There are 4 groups within the division; Registration of Professionals, Franchising, Enforcement and Securities Registration and Exemption. Link to Wisconsin Division of Securities Website.
The Division recently issued the following administrative orders:
Lawrence W. Forman, Milwaukee, WI– 7/6/2015- Consent Cease and Desist Order for transacting business in Wisconsin as a broker-dealer without registration and for making untrue statements of fact in connection with the offer, sale or purchase of securities.
Michael P. Sirianni–Wausau, WI- 6/30/2015–Cease and Desist Order for transacting business in Wisconsin as a broker-dealer without registration and for for omitting material facts in connection with the offer and sale of securities to a person in Wisconsin.
Pivotpoint Advisors, LLC and John M. Norquay-Janesville, WI-6/30/2015- A Summary Order was issued against Pivotpoint Advisors and Norquay for selling an unregistered promissory note and for failing to state material facts in connection with the sale resulting in a 30 days suspension, fines and restitution of $12,521.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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