Statement from Commissioner Pieciak: DFR staff continue to work remotely and will do so until further notice. The department is still conducting business, however there may be some temporary delays in DFR services. 

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
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

802-828-3301
833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

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

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