Fees

Registration and Renewal Fees

Note:  All fees are nonrefundable

Electronic filers make payments through the Central Registration Depository/Investment Advisor Registration Depository. (CRD/IARD).  For paper filers, make checks payable to "Department of Financial Regulation".

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 $90.00
Issuer agents $90.00
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 $90.00
Investment adviser representative mass transfer fee $80.00
Branch office  transfer fee- broker-dealer $120.00
Branch office transfer fee - investment adviser $120.00

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/share class
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