Effective July 1, 2024, securities notice filing fees and sales agent registration fees have increased per H.883, p.120.
Firms and Individuals |
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Initial and Renewal-Fees Are Non-Refundable |
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| Broker-dealer firm--FINRA and non-FINRA | $300.00 |
| State registered investment adviser | $300.00 |
| Federally covered investment adviser- notice filing fee | $300.00 |
| Broker-dealer agents | $145.00 |
| Issuer agents | $145.00 |
| Investment adviser representatives | $80.00 |
Branch Office Fees |
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Initial and Renewal Fees Are Non-Refundable |
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| Registration and Renewal of broker-dealer branch office | $120.00 |
| Notice filing and Renewal of investment adviser branch office | $120.00 |
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*Please review specific filing requirements for branch offices when a branch is both a broker-dealer branch and an investment adviser branch |
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Transfer FeesFees are Non-Refundable |
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| Broker-dealer agent mass transfer fee | $145.00 |
| Investment adviser representative mass transfer fee | $80.00 |
| Branch office transfer fee- broker-dealer | $120.00 |
| Branch office transfer fee - investment adviser | $80.00 |
All SecuritiesFees Are Non-Refundable |
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| Investment Company (Unit Investment Trusts, Open and Closed-End Mutual Funds) Initial Notice Filings | $2,275/share class |
| Investment Company (Unit Investment Trusts, Open and Closed-End Mutual Funds) Renewal Notice Filings | $2,025/share class |
| Regulation D, Rule 506 Initial and Renewal Notice Filings | $820 |
| Regulation A, Tier II Initial and Renewal Notice Filings | $820 |
| All Securities Registrations (By coordination and qualification) and Renewals | $600 |
| Vermont Small Business Offering (Intrastate Exemption) | $200 |
| Vermont Small Business Offering (Interstate Registration) | $600 |
| Request for Exemption from Registration | $200 |
Interpretive Opinions and No Action Determinations |
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| The fee applies to each request for an interpretive opinion or no-action determination | N/A |
Contact
Vermont Department of Financial Regulation • Securities Division
89 Main Street
Montpelier, VT 05620-3101
Questions concerning registration or the registration process? Call 802-828-3420 or email dfr.securitiesinfo@vermont.gov.