Jan. 17, 2024 – Even the attorneys who work in the area admit that administrative law is complicated, with scraps of different governing provisions across statutory chapters, administrative rules, opinion letters, and precedent.

Attorneys with questions turn to those at the Wisconsin Department of Financial Institutions (DFI) – who have an open door when it comes to answering questions.

Meet Lindsay Fedler (U.W. 2013), a staff attorney with DFI in Madison. Her practice includes securities and franchise laws and regulations at the state and federal level, and she prosecutes enforcement actions on behalf of the Division of Securities. She is also currently vice chair of the State Bar of Wisconsin Business Law Section. She recently responded to questions about her position and career.

What was your path to Wisconsin DFI?

I was fortunate to come to DFI shortly after graduating from the U.W. Law School in 2013. I began my career with the Division of Securities working in regulatory compliance for investment advisers and broker dealers, as well as handling franchise law matters.

After two years, I moved to an enforcement attorney role, with a focus on prosecuting securities fraud and registrant misconduct in an administrative and civil capacity.

I also get to work on investor education efforts by making presentations to various groups such as retirees, healthcare workers, and law enforcement, and drafting and creating written materials for investors and financial professionals.

What is DFI’s role within Wisconsin’s regulatory landscape?

DFI’s main priorities are the safety and soundness of Wisconsin’s financial institutions, including banks and credit unions, safeguarding the investing public, facilitating commerce, and increasing financial capability throughout the state.

What do you do on a daily basis?

My day-to-day work is ever-changing. I might be meeting with my enforcement colleagues to review evidence and discuss next strategic steps, preparing for a hearing in a contested matter, drafting an administrative order or referral to law enforcement, or preparing investor or financial professional educational materials.

Is there something you could tell Wisconsin business and corporate attorneys about DFI that could help them in their daily work?

As regulators, we want you to reach out with your questions because we want you to get it right. The earlier you address a question with regulators, the less likely you are to run into bigger problems down the road.

In 2019, Matt Lynch, DFI’s Chief Legal Counsel published an ​ excellent article for the Business Law Section’s blog about this topic and it is evergreen in its advice almost five years later.

You attended the State Bar’s inaugural G. Lane Ware’s Leadership Academy in 2016-17. What skills from the Academy do you use daily?

Broadly speaking, one of the overarching lessons I received and apply daily from the Leadership Academy was the importance of active listening in effective communication. This is true for interactions with colleagues, investors, and opposing counsel.

Practically speaking, my whole outlook on public speaking was changed by the Leadership Academy. I went from dreading most public speaking opportunities to understanding how to prepare so that I felt confident and even enjoyed speaking in front of audiences of hundreds of people. When I started treating public speaking more as storytelling instead of conveying specific, technical points, it became more fun for me and hopefully more engaging for my listeners.

The academy is an excellent way to network with attorneys you may not meet in the normal course of your business practice. The instructors on all topics were engaging and made a lot of the modules interactive in a way that was insightful to our individual practice areas.