Section 82.90. Certification of a business, financial adviser, or investment firm by another public agency.

 

(1)  The department may waive some or all of the certification application requirements and procedures under s. Adm 82.50 for a business, financial adviser, or investment firm that is already certified by another public-sector agency if the department determines that the agency's standards for certification and certification procedures are substantially equivalent to the department's.

(2)  In making the determination in sub. (1) , the department may consider factors that include the following:

(a) The documentation that the applicant was required to provide to receive certification by the agency.

(b) Whether an on-site visit was performed.

(c) The length of time for which certification is effective.

(3)  To receive any waivers under this section, an applicant shall provide the department with documentation showing the equivalency specified in sub. (1) and addressing the factors specified in sub. (2) , except the documentation for sub. (1) is not required for an applicant that submits proof of being certified by an agency listed under sub. (4) .

(4)  The department shall maintain a list of certification agencies whose certification procedures are found under sub. (1) to be equivalent to the department's standards.

History: EmR1041 : emerg. cr., eff. 11-14-10; CR 11-004 : cr. Register September 2011 No. 669 , eff. 10-1-11; correction in (1) made under s. 13.92 (4) (b) 7. , Stats., Register December 2011 No. 672 .