Securities Division Fee Schedule
(Effective October 1, 2017)
General
Interpretive opinion/no action request
|
$100
|
Reprint of Maryland Securities Act and regulations
|
$7.50
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Reprint of Franchise Law and regulations
|
$5
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Reprint of Uniform Franchise Offering Circular (U.F.O.C.) Guidelines
|
$5
|
Reprint of Business Opportunity Act and regulations
|
$2.50
|
Reprint of Mid-Atlantic Regional Review Program Package on preparing a coordinated SCOR or Reg A filing
|
FREE
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Small Company Offering Registration (SCOR) package (and reprint of Maryland Securities Act and regulations)
|
$10
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NASAA manual on preparing a Small Company Offering Registration (SCOR)
|
$15 - Reprint
$5 - Diskette (specify Word or WordPerfect format)
|
Securities Registrations, Exemptions, Notice Filings, and Issuer Agent Registrations
Registration, including SCOR (initial and renewal if applicable)
|
0.1% aggregate Maryland offering
- $500 minimum
- $500 minimum
|
|
|
|
Maryland Intrastate Small Business Exemption (MISBE) |
$100
|
Crowdfunding (initial and renewal if applicable)
|
$400
|
All Other Exemptions
|
$400
|
|
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Investment Company (initial, renewal if applicable, and termination)*
Change in Fiscal Year End
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$500 plus:
- $1,300 no sales report;
- 0.1% of gross sales greater than $500,000 and less than $1,500,000 (maximum of $1,500); OR
- $1,000 if gross sales are greater than or equal to $1,500,000
|
Regulation D, Rule 506**
|
$100
|
Regulation A Tier 1 (initial and renewal if applicable)**
|
$100
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Regulation A Tier 2 (initial and renewal if applicable)**
|
$100
|
Note:
*Late Fee $500
**Late Fee $150
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Issuer Agent Initial and Renewal
|
$65 (effective July 1, 2025)
|
Broker-Dealer Registrations
Initial/renewal of application for registration of a broker-dealer (firm)
|
$250 (See note)
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Initial/renewal/transfer of application for registration of an agent (stockbroker)
|
$65 (See note)
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Note: For FINRA-member firms, these fees are collected through the CRD system. Agents cannot become registered without a registered broker-dealer. All broker-dealer and agent registrations expire on December 31 of each year and must be renewed on or before that date for the next year.
|
Investment Adviser Notice Filings, Registrations and Private Fund Adviser
Initial/renewal application for registration of investment adviser (firm)
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$300 (See note)
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Initial/renewal notice filing for federal covered adviser (firm)
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$300 (See note)
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Initial/renewal notice filing for private fund adviser (exempt reporting adviser)
|
$300 (See note)
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Initial/renewal/transfer for registration of investment adviser representative
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$50 (See note)
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Note: Fees are collected through the IARD System. All investment adviser and representative registrations and notice filings expire on December 31st of each year. Applications for renewal must be filed by the IARD renewal deadline each year.
Franchise Registrations
Initial application for registration
| $500
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Amendment to an effective registration
| $100
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Renewal application (must be renewed annually)
| $250
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Exemptions
| $250
|
Business Opportunities Filings
Initial filing
| $250
|
Amendment to a filing
| $50
|
Renewal filing (must be renewed annually)
| $100
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Page Content
Method of Payment
Cash is not accepted. With the exception of the noted areas above, checks should be made payable to: "Office of the Attorney General." Payment is non-refundable and must be included with the filing. Notice of improper payment is sent out immediately. Although filings and applications are processed even if improper payment was made no registration or exemption will be granted or notice filing accepted without receipt of the proper fee.
