Securities

William Carrigan
Deputy Commissioner William R. Carrigan
The Securities Division administers Vermont’s “Blue Sky Laws” contained in the Vermont Uniform Securities Act, 9 VSA Chapter 150 (Securities Act). The Securities Division is responsible for protecting Vermonters from investment fraud and promoting the development of Vermont’s capital markets by: 

  • Reviewing and registering securities offered to Vermont investors and where appropriate granting registration exceptions to facilitate capital formation;
  • Registering Broker-Dealers, Investment Advisors, and their agents and representatives;
  • Conducting regular financial examinations on investment professionals;
  • Responding to investor complaints and investigating potential violations of the securities laws;
  • Bringing administrative or civil actions against violators of the securities laws;
  • Educating Vermont investors, industry participants and businesses about securities laws; and
  • Updating securities regulations to keep pace with evolutions in the industry.

Website Under Construction

Our website is still under construction. We appreciate your patience while we continue to update our content. Please contact the Securities Division directly if you have questions or need help. Contact the Securities Division at 802-828-3420 or dfr.securitiesinfo@vermont.gov.

 

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Securities Bulletins, Orders, and Regulations

The vision of the Securities Division is to develop sensible and flexible securities laws and regulations to ensure Vermont investors have complete confidence in the investments available to them, while Vermont businesses can easily access the capital markets. The division also seeks to register high quality professionals to advise Vermonters on their investments and maintain a visible presence in the small business community. 

Contact the Securities Division at 802-828-3420, or via email dfr.securitiesinfo@vermont.gov or by fax at 802-828-2896.

Deputy Commissioner

William R. Carrigan was appointed Deputy Commissioner of the Securities Division in July 2016. He has worked at DFR since 2007 serving as Director of Examinations and Enforcement and Investor Education Coordinator. A Certified Fraud Examiner, he worked closely with the FBI and IRS to expose the $28 million Mac Parker Ponzi scheme, which involved hundreds of investors, and he was a member of the team that investigated the recent Jay Peak EB-5 matter that resulted in federal and civil lawsuits. Carrigan also spearheaded the inquiry that led to the recent $5.9 million settlement with Raymond James and Associates.

He has 20 years of experience in the securities industry and held various positions prior to joining the division. He holds a bachelor’s degree in business management from Johnson State College and a master’s degree in forensic studies from Stevenson University in Maryland. He is a member of the Association of Certified Fraud Examiners and the North American Securities Administrators Association.

Contact Information

Department of Financial Regulation
Commissioner Michael Pieciak
89 Main Street, Montpelier, VT 05620 - 3101
802-828-3301

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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