While you may not have to register the securities you wish to sell, you are still subject to the anti-fraud provisions of the securities act. Also, because these offerings are not reviewed, there are restrictions on the number of investors and/or the amount of money that can be raised. But for the firm that needs smaller amounts of capital or only needs to reach a limited audience, this is the cheapest and fastest route to go.
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Raising Capital brochure
Quick Guide to Securities Exemption & Registration Procedures brochure
Wisconsin Uniform Securities Law
Chapter 551 of the Wisconsin Statutes
Chapter DFI - Section of the Wisconsin Administrative Code
containing both securities rules and franchise rules
Small Corporate Offering Registration (U-7) (Word Document)
A question-and-answer form of prospectus that meets the disclosure requirements mandated by the Wisconsin Securities Law. This link will take you to the NASAA (North American Securities Administrators Association) Help for Small Business page.
Solicitation of Interest (SOI)
The required form if using section DFI-Sec. 2.027, Wis. Adm. Code. (PDF format)
A federal form required to be filed with Sec. 551.23(19), Wis. Stats., Regulation D exemption notice filing.
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