Applications for initial registration or renewal by a broker-dealer agents and investment adviser representatives will not be deemed complete until the required fee and all required submissions have been filed with the Central Registration Depository (CRD) and the Vermont Securities Division, including any information or documentation requested by the Division after an initial submission. Failure to complete the application or renewal procedures as set forth below may result in termination of an application or registration. Fees will not be refunded or credited and new fees will be required upon refiling.
Broker-Dealer Agent
Broker-Dealer Agent registration requirement and exemptions may be found at 9 V.S.A. § 5402 and V.S.R. §3.1
Please note, all non-CRD filings can be emailed to the Division at dfr.securitiesbdiaregistration@vermont.gov.
All applications must include:
- A Form U-4 and non-refundable application fee of $120.00 submitted through the CRD.
- Any financial or supporting documents the Division requests in writing.
- Proof of a valid passing score on the appropriate FINRA qualification examination(s) and evidence on file with the CRD that the agent has obtained a passing score on the S63 examination.
- If an agent operates from a place of business in Vermont, please refer to our Branch Office section for detailed information.
Dual Registrations
Dual or multiple registrations are permitted only upon demonstration of appropriate affiliation of the broker-dealers; registrations on any other basis must be approved in advance by order of the Commissioner.
Investment Adviser Representative
Investment Adviser Representative registration requirements and exemptions may be found at 9 V.S.A. § 5404 and V.S.R. §7-1.
All applications must include:
- A Form U-4 and non-refundable application/renewal fee of $80.00 submitted through the CRD.
- Evidence on file with the CRD that the applicant has obtained a passing score on: Series 65 examination OR Series 7 AND Series 66. Please note that these scores must be valid for an initial or renewal application for registration to be granted.
- Any financial or supporting documents the Division requests in writing.
Please note: Any individual who was registered as an investment adviser representative in any jurisdiction in the United States on January 1, 2000 shall not be required to satisfy the examination requirements for continued registration, except that the Commissioner may require additional examinations for any individual found to have violated any state or federal securities law.
Professional Designations
The above examination requirements (see #4 above) shall not apply to any applicant who currently holds and maintains, in good standing, one of the following professional designations:
- Certified Financial Planner (CFP)
- Chartered Financial Consultant (ChFC)
- Personal Financial Specialist (PFS)
- Chartered Financial Analyst (CFA)
- Chartered Investment Counselor (CIC)
Dual Registrations
If an investment adviser representative is associated with or employed by more than one investment adviser or federal covered investment adviser, the investment adviser representative must be registered separately for each such investment adviser or federal covered investment adviser. Please refer to the Branch Office section for information on registration/notice filing of branch offices for representatives associated or employed with more than one investment adviser or federal covered investment adviser.
Contact
Vermont Department of Financial Regulation
Securities Division
89 Main Street
Montpelier, VT 05620-3101
Questions concerning a registration or the registration process may be directed to 802-828-3420 or dfr.securitiesinfo@vermont.gov.