Agent of Issuer
Submit a complete, manually signed (in all applicable places), Form U-4 and a fee of $130 directly to the Bureau. Confirmation of licensure will be sent by the Bureau.
Submit amendments to Form U-4 directly to the Bureau, in accordance with the instructions on Form U-4. All material information on the Form U-4 on file with the Bureau must be current at all times.
On or before December 31st of each year, submit a renewal fee of $100 per agent for licensing in the ensuing year.
Submit a Form U-5 with original signatures directly to the Bureau.
EXAMINATION REQUIREMENTS FOR LICENSURE
There are no examination requirements.
Broker Dealer Registration
Agent Licensure and Filings
Opening or Closing of a New Hampshire Branch
All other Amendments to form BD
Financial Statement Filings
State Investment Adviser
State IA Application
State IA Filing Requirements
Federal Investment Adviser
Federal IA Notice Filing
Federal IA Filing Requirements
Canadian Broker-Dealer Application
Agent Licensure and Filings
Ongoing Requirements for Licensure
Registration of Securities
The following FORMS are available in .pdf format. PDF documents can be viewed and printed by utilizing the Acrobat Reader. The Reader may be downloaded and installed at no cost by clicking here.
Forms followed by * may be filled out on your computer before printing by: (1) waiting for the form to finish loading completely, (2) clicking on the "hand" button on the Acrobat toolbar to activate Edit mode and (3) utilizing the mouse to move between fields and to select check boxes.
Please refer to RSA 421-B:6-614 for a complete list of fees.
All checks should be payable to the "State of New Hampshire"
|Initial License FEE||$250|
|Application FEE (non-refundable)||$50|
STATE COVERED INVESTMENT ADVISOR (IA)
|Initial License FEE||$200|
|Application FEE (non-refundable)||$50|
FEDERAL COVERED INVESTMENT ADVISER (IA)
|Initial Notice Filing FEE||$250|
|Name Change Amendment Notice FEE||$100|
|Annual Notice Renewal Filing FEE||$200|
AGENTS (BD & IA)
|Initial License FEE||$100|
|Application FEE (non-refundable)||$30|
|Initial Agent License FEE||$50|
|Agent Application FEE (non-refundable)||$25|
|Agent Renewal FEE||$50|
|Initial ID License FEE||$50|
|ID License Renewal FEE||$50|
SECURITIES REGISTRATION/EXEMPTIONS/NOTICE FILINGS
|Open End Mutual Fund Notice Filing per 1933 Act 18(b)(2)
Initial Notice Filing FEE (per class)
|Annual Renewal FEE Notice - Open-End Mutual Fund
Companies (per class)
|Offer or sale of Covered Securities of other Investment
Companies per 1933 Act 18(b)(2)
|Non-issuer transactions per 1933 Act 18(b)(4)(A)
Filing Fee (one time)
|otice Filing Fee (initial and annual renewal) for sales of
covered securities per 1933 Act 18(b)(4)(D)
Initial registration FEE and annual renewal fee (if offering continues) prior to offer or sales of securities - 2/10ths of one percent of the offering value of the issue. FEE shall not exceed $1,050. In addition, a $200 non-refundable examination FEE for each type and class of securities.
Initial notice filing FEE and annual renewal fee (if offering continues) prior to offer or sales of covered securities under 1933 Act 18(b)(4)(C) and 18(b)(3) - 2/10ths of one percent of the offering value of the issue. FEE shall not exceed $1,050. In addition, a $200 non-refundable initial notice FEE for each security.
|Initial FEE per county registered||$100|
|Annual Renewal FEE per county registered||$100|
Reporting Suspected Financial Exploitation of Vulnerable Adults
Suspected Financial Exploitation Of Vulnerable Adult
Interpretive Orders and No-Action Letters
Interpretive and Other Orders
In the Matter of Applicability of N.H. RSA 421-B:2-202-A(3) (02/11/2016) - clarifying application of bad actor provisions to self-executing securities exemptions.
Transfer of Securities Issued in Compensatory Circumstances - INT05-001 (11/03/05) - this order exempts offers and sales of securities under a written compensatory benefit plan...
Viatical Investments, Status as Securities - INT04-003 (10/25/04) - a viatical investment typically involves the contractual right to receive any portion of the death benefit or ownership of a life insurance policy or certificate, for consideration, that is less than the expected death benefit of the life insurance policy or certificate...
Definition of Institutional Buyer (08/02/2004) - The term "institutional buyer" shall be interpreted as an organization or person with net worth of more then twenty five million dollars...
In re Investment Adviser "Green Project" of the North American Securities Administrators Association, Reduction of Paperwork (02/22/2004) - provides for elimination of certain document submission requirements for investment adviser license applications.
In the Matter of Concord Food Co-op, Inc. (10/11/2001) - exempts Concord Food Coop, Inc. from the issuer-dealer and agent licensing requirements of New Hampshire RSA 421-B:6.
In the Matter of RSA 421-B:28, III & IV and RSA 421-B:31-a (12/21/1999) - requires passage of appropriate securities examinations unless grandfathering or professional designation waiver provisions apply. In particular, spells out that in general a current Series 65 examination (post-January 1, 2000) is required to satisfy the Series 65 requirements.
In the Matter of Interpretation of RSA 421-B: 15, IX-a (05/20/1996) - interpretation of RSA 421-B:15, IX-a with regards to determining when an offering is terminated for unit investment trusts.
In the Matter of Interpretation of RSA 421-B:31, IV (05/20/1996) - interpretation of RSA 421-B:31, IV as it relates to penalties for unit investment trusts.
Memorandum re Sliding Structure for Takeover Fee (04/11/1995) - establishes sliding structure for takeover fees.
In the Matter of Interpretation of RSA 421-B:2, IX (11/16/1993) - interpretation of RSA 421-B:2, IX that addresses the exclusion from the definition of "investment adviser" for broker-dealers who provide investment advisory services that are "solely incidental" to their broker-dealer business. Defines the scope of the exclusion.
In the Matter of Small Corporate Offerings Registration (09/10/1993) - authorizes use of Form U-7/ULOR-C as an application/disclosure document to register securities under RSA 421-B:14.
Re: Clearwater Investment Trust (7/23/2019) - On March 8, 2019, the Bureau of Securities Regulation ("the Bureau") received a letter from you requesting an interpretative opinion that would allow the issuer of the above-referenced funds, Clearwater Investment Trust (hereinafter “Clearwater”), to rely on an exemption from the notice filing requirements set forth in NH RSA 421-B:3-302 and NH RSA 421-B:6-614.
Re: New Hampshire Federal Credit Union (NHFCU) (03/10/2016) - Reference is made to your letter to the New Hampshire Bureau of Securities Regulation dated January 7, 2016 requesting a no action letter regarding NHFCU's offering of financial counseling sessions to NHFCU members.
Re: Raven Rock Properties, LLC (RRP) (05/30/2012) - Reference is made to your letter to Peter Zis received on 2/15/2012 requesting a follow-up from the Banking Department with the Bureau of Securities Regulation (Bureau) to determine any licensing or registration requirements under the New Hampshire Securities Act.
Re: Seacoast Indoor Tennis Club, Inc. (SITC) (01/31/2011) - Reference is made to your letters recently filed with the Bureau with attachments including IRS statements filed in years 2004-2008 and letter of accountant Rosadina, wherein you assert securities exemption status under NH RSA 421-B:17, 1(m).
Re: Summit Hotel OP, LP and Summit Hotel Properties, LLC (10/22/2010) - Reference is made to your letter dated 9/15/2010 requesting a no action for a reorganization and a plan of merger whereby LLC plans to merge with and into OP, in exchange for units of limited partnership interest in the OP ("OP units") to be issued to the former members of the LLC.
Re: Optima Bank & Trust Company ("Optima") (02/14/2008) - Reference is made to your letters dated 1/16/2008 and 1/22/2008 in which you make several legal arguments in response to the New Hampshire Bureau of Securities Regulation ("Bureau") securities inquiry into Optima's 2007 subscription offering and you request that no enforcement action be taken.
Re: Da-Mont Investments, Inc. (“Da-Mont”) (12/09/2004) - Request on behalf of Da-Mont, that the Bureau of Securities Regulation issue a no-action letter, determining that the sale by Da-Mont of condominium units known as the Great Escape Condominiums will not require registration under the Uniform Securities Act RSA 421-B.
Re: Mindreef, Inc. (“Mindreef”) (10/08/2004) - Reference is made to your letter dated 9/22/2004 requesting an interpretive order which would permit Mindreef to grant shares of restricted stock, stock options, and other equity-based compensation to its non-employee directors.
Re: Investment Adviser Exam Licensing Requirement Inquiry – Series 7 & 66 (04/12/2004) – Exam requirements for licensing as an investment adviser are met by the Series 7 and 66 exams even though the applicant is no longer associated with an FINRA member firm and the exam may lapse within two years; lapsing of the Series 7 exam will not make deficient an otherwise valid investment adviser license.
Re: Investment Adviser Licensure Requirements for Investment Newsletters in New Hampshire (10/23/2003) - addresses whether an investment newsletter and/or its publisher are required to be registered or licensed in New Hampshire as an investment adviser.
Re: Associated Pharmacies, Inc. (10/28/2002) - Bureau will not recommend enforcement action if Associated Pharmacies offers and sells certificates based on enumerated representations.
Re: Federal Savings Bank/Federal Covered Adviser Representative Licensure in New Hampshire (08/22/2002) - investment adviser representatives of federal savings banks that are also registered as investment advisers with the Securities and Exchange Commission and conduct business in New Hampshire must be licensed as investment adviser representatives in New Hampshire.
Re: Request for Information, Liquidating Transactions (01/22/2002) - New Hampshire does not have de minimis provisions allowing a limited number of liquidating transactions; all such transactions must be handled by a licensed broker-dealer.
Re: Federal Covered Advisers in New Hampshire, Notice Filing Required, No De Minimis Standard (11/07/2001) - New Hampshire law continues to require that federal covered advisers submit a notice filing and fee before conducting any business in New Hampshire. De minimis does not apply.
Re: Guaranty Bancorp, Inc. (10/08/2001) - Bureau will not take enforcement action against Guaranty Bancorp as it provides limited auction service in its own securities as described in request for no action.
Re: No-Action Position Relative to Broker-Dealer Information Storage Using Optical Storage Technology (09/27/1995) - Bureau will not take enforcement action for storage of broker-dealer records using an optical storage device.
Re: No-Action Position on Certificates of Deposit (12/20/1994) - Bureau takes the position that certificates of deposit (CDs) are securities within meaning of RSA 421-B:2.
Prior to registering as a Professional Bondsman, the applicant must obtain a New Hampshire Property & Casualty Insurance Agent license. For further information contact the New Hampshire Insurance Department.
Review New Hampshire statutory law regarding Professional Bondsmen at RSA 598-A.
Contact the Bureau of Securities Regulation to set up date and time for Bondsman exam.
Exam FEE - $400 (payable to the State of New Hampshire).
Initial registration FEE - $100 per county in which the Bondsman will be authorized to write bail (payable to the State of New Hampshire).
Annual renewal registration FEE - $100 per county on or before December 31st of each year (payable to the State of New Hampshire).
Bail recovery activities require filing of proof of $300,000 liability insurance. RSA 597:7-b
Professional Bondsman Registration Checklist
New Hampshire Securities Act
The Revised New Hampshire Uniform Securities Act
On July 27, 2015, Gov. Maggie Hassan signed into law a new version of the New Hampshire Uniform Securities Act, which goes into effect on January 1, 2016. The new Act is based on the Uniform Securities Act of 2002, the most recent uniform securities act drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL).
The new Act contains several key changes from the current securities act. These include:
Elimination of licensing requirements for issuer-dealers and issuer-dealer agents
Elimination of renewal fees for Regulation D, Rule 506 offerings
Elimination of filing of final sales reports for Regulation D, Rule 506 offerings
Elimination of filing requirements for the transactional exemption in connection with a merger/reorganization
An expanded limited offering exemption allowing issuers to sell securities to up to 25 purchasers in any twelve-month period (subject to limitations on general solicitation, payment of commissions, and purchase for investment purposes)
Bad actor disclosure requirements for issuers of securities
The Bureau considers these changes to be advantageous to firms seeking to raise capital in New Hampshire while also continuing to provide strong protections for New Hampshire investors.
Important Notice Regarding Interpretive and Other Orders
Securities Division Notices and Cases of Interest
NOTICE TO STATE-REGISTERED INVESTMENT ADVISERS – New Hampshire Bureau of Securities Regulation will not be requiring state-registered investment advisers to submit the new federal disclosure form, Form CRS. Investment advisers are still required to submit and update Form ADV, Part 2 and provide copies to clients.
Important Information Regarding the Current Status of Bureau Operations During the COVID-19 Pandemic
Temporary Relief for Registrants Affected by the COVID-19 Outbreak
Be Wary of Bond Ratings
Notice to Broker-Dealers and Investment Advisers Regarding Renewals
Bureau Of Securities Announces New Law To Combat Financial Exploitation Of Vulnerable Adults
An Act Relative to the Detection and Prevention of Financial Exploitation of Vulnerable Adults
Promissory Notes - Know the Risks!
Revised N.H. Uniform Securities Act (effective January 1, 2016)
Local Government Center
Investigation of Financial Resources Mortgage, Inc.
Securities Regulation For Investors
Corporation, UCC and Securities