WI AB133

Amends Wisconsin's Uniform Commercial Code to give entitlement holders (customers with securities held in "street name" through brokers) priority over a securities intermediary's creditors in claims to financial assets, eliminating an exception that previously allowed creditors with control over securities to take priority

Removes provisions allowing clearing corporations' creditors to claim priority over entitlement holders even without control over the securities

Changes governing law for security entitlements from the securities intermediary's jurisdiction to the entitlement holder's jurisdiction

Repeals rules that determined a securities intermediary's jurisdiction based on agreements or account statement locations

Takes effect on the first day of the 4th month after publication, applying to security interests perfected on or after that date