Fees

Effective August 1, 2019, broker-dealer agent registration/renewal fees have increased. 

Note:  All fees are nonrefundable

Firms and Individuals

 
Registration and Renewal Fees
 
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 $120.00
Issuer agents $120.00
Investment adviser representatives $80.00

Branch Office Fees

 
Initial and Renewal
 
Registration and Renewal of broker-dealer branch office $120.00
Notice filing and Renewal of investment adviser branch office $120.00

*please review specific filing requirements for branch offices when branch is both a broker-dealer branch and investment adviser branch

 

Transfer Fees

 
Broker-dealer agent mass transfer fee $120.00
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 Securities

 
Investment Company (Unit Investment Trusts, Open and Closed-End Mutual Funds) Initial Notice Filings $2,000/share class
Investment Company (Unit Investment Trusts, Open and Closed-End Mutual Funds) Renewal Notice Filings $1,500/share class
Regulation D, Rule 506 Initial and Renewal Notice Filings $600
Regulation A, Tier II Initial and Renewal Notice Filings $600
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

 
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 a registration or the registration process may be directed to 802-828-3420 or dfr.securitiesinfo@vermont.gov.

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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Employee Information