553.605 Administrative assessments; investor education.

221 words·~1 min read·/wi/chapter-553/553-605

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

(1)Imposing administrative assessment with certain orders.

(a)The division or any officer designated by the division may impose an administrative assessment in the amount provided in par.

(b)on any person who is subject to an order that is issued under s. 553.24 , 553.28 , 553.58

(1)and

(2)or 553.60 in any of the following circumstances:

1. Following a hearing under s. 553.56 if the notice delivered to all interested parties includes notice of the division’s authority to impose an administrative assessment under this subsection.

2. Pursuant to an order that is issued under any of the sections referred to in this paragraph and that is stipulated to by each person subject to the administrative assessment.

(b)The amount of an administrative assessment imposed on any person under this subsection may not exceed $5,000 for each act or omission that constitutes the basis for issuing the order under any of the sections referred to in par.

(a), except that the amount of the administrative assessment may not exceed $50,000 for any person subject to the order.

(c)The division shall include any administrative assessment imposed under this subsection in the order issued under any of the sections referred to in par.

(a)in the manner described in par.

(a)1. or 2.