.

Securities Division

William Carrigan
William R. Carrigan
Deputy Commissioner

The Securities Division administers Vermont’s “Blue Sky Laws” contained in the Vermont Uniform Securities Act (9 VSA Chapter 150) (the “Securities Act”). The Securities Act charges the Securities Division with a twofold mission of (1) protecting the Vermont investing public from fraud; and (2) promoting the development of Vermont’s capital markets. The Securities Division carries out this twofold mission by:

  • Reviewing and registering securities offered to Vermont investors and where appropriate granting registration exceptions to facilitate capital formation;
  • Registering Broker-Dealers, Investment Advisors, and their agents and representatives;
  • Conducting regular financial examinations on investment professionals;
  • Responding to investor complaints and investigating potential violations of the securities laws;
  • Bringing administrative or civil actions against violators of the securities laws;
  • Educating Vermont investors, industry participants and businesses about securities laws; and
  • Updating securities regulations to keep pace with evolutions in the industry.

The vision of the Securities Division is to develop the most sensible and flexible securities laws and regulations in the country so Vermont investors have complete confidence in the investments available to them while Vermont businesses can easily access the capital markets. To register high quality professionals to advise Vermonters on their investments and maintain a visible presence in the small business community to promote use of the capital markets in Vermont.

Contact the Securities Division at 802-828-3421, or via email dfr.securitiesInfo@state.vt.us.
Our fax is 802-828-2896.