Broker Dealer Registration

Initial and Renewal Registration by FINRA-Member Firms

Applications for initial registration or renewal registration by a broker-dealer that is a FINRA member 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.

*Please note:  A broker-dealer that is a FINRA member firm is not required to file annual audited financial statements with the Division, unless requested by the Division.

• Broker-dealer registrations expire on December 31 of each year.  Registration renewals must be filed annually through the CRD along with payment of the renewal fee of $250.00.
• All non-CRD filings must be delivered to the Division at the address listed below.

• Broker-Dealer registration requirement and exemptions may be found at 9 V.S.A. § 5401.

• All Broker-Dealers must have at least one (1) agent registered in Vermont.  Please indicate in your cover letter to us the agent's name and CRD#.  Please refer to 9. V.S.A. 5402 for Agent registration requirements for specific information.  

All applications must include:

1. A non-refundable application fee of $250.00 submitted through the CRD.
2. A copy of the firm’s Form BD as filed via the CRD must be submitted to the Division along with all corresponding schedules and related documents.
3. If the firm has checked question 12S on Form BD, indicating that the firm plans to offer investment advisory services, the firm must indicate, in writing, whether these services are solely incidental to the firm’s broker-dealer business and whether the firm receives a fee or special compensation for investment advisory services.
4. The Division’s  Consent to Service of Process appointing the Commissioner of the Department of Financial Regulation (DFR) as the applicant’s attorney for services of process.
5. A completed Affidavit of Broker-Dealer Activity Form.
6. A completed Vermont Broker-Dealer Tax Certification Form.
7. For applicants that have been in business longer than six (6) months, a copy of the firm’s most recent FOCUS report (Parts I and II or IIA).  For those applicants that are in the process of FINRA membership but not yet approved, the firm’s most recent trial balance, balance sheet, supporting schedules and computation of capital as filed with FINRA.
8. Any other financial or other information or record that the Division may determine is appropriate and requests in writing.

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

back to top