Broker-Dealer Agent & Investment Adviser Representative Registration & Renewal

Applications for initial registration or renewal registration 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 Vermont Securities Division (the "Division") and the Central Registration Depository (the “CRD”), 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.


Registrations for agents and representatives expire on December 31, of each year.  Registration renewals must be filed with CRD along with the appropriate fee(s).


 

-IMPORTANT-

Agents and representatives who are Vermont residents, or who transact business from any office located in Vermont MUST file a Tax Certification Form prior to registration approval and annually thereafter with the Division, even though the agent's/representative's renewal is processed through the CRD.

Failure to file the annual certification may result in termination of a registration by the Division.


Broker-Dealer Agent:

  • Broker-Dealer Agent registration requirement and exemptions may be found at 9 V.S.A. § 5402.
  • All non-CRD filings may be mailed to the Division at the address listed below.

All applications must include:

  1. A non-refundable application/renewal fee of $60.00, submitted through the CRD.
  2. A Form U-4, filed through the CRD.
  3. A completed Tax Certification Form, filed directly with the Division, for any agent who is a Vermont resident or who transacts business from a place of business located in Vermont.
  4. Any other financial or other information or record that the Division may determine is appropriate and that the Division requests in writing.
  • If an agent operates from a place of business in Vermont, the agent will not be registered until the branch office is properly registered.  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 requirement and exemptions may be found at 9 V.S.A. § 5404.
  • All non-CRD filings may be mailed to the Division at the address listed below.

All applications must include:

  1. A non-refundable application/renewal fee of $55.00, submitted through the CRD.
  2. A Form U-4, filed through the CRD.
  3. A completed Tax Certification Form, filed directly with the Division, for any representative who is a Vermont resident or who transacts business from a place of business located in Vermont. 
  4. 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 complete.
  5. Any other financial or other information or record that the Division may determine is appropriate and that the Division requests in writing.
  • Any individual that has not been registered in at least one(1) jurisdiction in the United States during any period of two (2) consecutive years shall be required to retake the necessary examinations in order to satisfy the above examination requirements.
  • 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.

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.

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:

  1. Certified Financial Planner (CFP)
  2. Chartered Financial Consultant (ChFC)
  3. Personal Financial Specialist (PFS)
  4. Chartered Financial Analyst (CFA)
  5. Chartered Investment Counselor (CIC)

All Non-CRD filings may be mailed or delivered to:

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

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