217.04 Participation in the nationwide multistate licensing system and registry; networked supervision; confidentiality.

555 words·~3 min read·/wi/chapter-217/217-04

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Participation in the nationwide multistate licensing system and registry. The division shall utilize the nationwide multistate licensing system and registry, and the provisions of s. 224.35 shall apply, with respect to applicants and licensees under this chapter. An applicant or licensee under this chapter shall register with, and maintain a valid unique identifier issued by, the nationwide multistate licensing system and registry.

(2)Networked supervision. To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the division may do any of the following:

(a)Participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, Money Transmitter Regulators Association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states.

(b)Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations, including organizations the membership of which is made up of state or federal governmental agencies, to standardize methods or procedures or share resources, records or related information obtained under this chapter.

(c)Enter into agreements or relationships with the nationwide multistate licensing system and registry, or other entities designated by the nationwide multistate licensing system and registry, to collect and maintain records, coordinate multistate licensing processes and supervision processes, process fees, and facilitate communication with licensees or other persons subject to this chapter.

(d)Utilize nationwide multistate licensing system and registry forms, processes, and functionalities in accordance with this chapter.

(e)Waive or modify any requirement, and establish new requirements by rule or order, as reasonably necessary to participate in the nationwide multistate licensing system and registry.

(f)Accept a licensing, examination, or investigation report made by another state or federal government agency or official, or a report prepared by an independent accounting firm.

(g)Accept the investigation results or control determination of another state, if the other state has sufficient staffing and expertise and meets minimum standards.

(h)Conduct examinations in conjunction with examinations conducted by representatives of other state agencies or agencies of another state or of the federal government.

(i)Utilize multistate record production standards and examination procedures when such standards and procedures will reasonably achieve the purposes of this chapter.

(j)Participate in nationwide protocols for licensing cooperation and coordination among state regulators if these protocols are consistent with this chapter.

(k)Implement this chapter in a manner that facilitates uniformity with respect to licensing, supervision, reporting, and regulation of licensees that are licensed in multiple jurisdictions.

(3)Confidentiality.

(a)Section 220.06 applies to this chapter.

(b)The division may not disclose information received under s. 217.05

(b)2. to any person except as follows:

1. The division may disclose the applicant’s social security number or federal employer identification number to the department of revenue for the sole purpose of requesting certifications under s. 73.0301 and to the department of workforce development for the sole purpose of requesting certifications under s. 108.227 .

2. The division may disclose the applicant’s social security number to the department of children and families in accordance with a memorandum of understanding under s. 49.857 .

3. The division may disclose information to the nationwide multistate licensing system and registry as provided in s. 224.35 .