Vermont Seeks Comments on Establishing Comprehensive Rules on the Sale of Securities in the State

The Vermont Department of Financial Regulation is seeking public comments on Securities Rule S-2016-01, which would govern the sale of securities in the State. The deadline for public comment is March 29, 2016.

The proposed Rule includes: Chapter 1 establishes authority and definitions; Chapter 2 lists all materials incorporated by reference; Chapter 3 provides for the registration of Broker-Dealers and Broker-Dealer Agents; Chapter 4 outlines registration requirements for securities offerings; Chapter 5 exempts certain securities offerings from registration; Chapter 6 establishes rules for certain communications in securities transactions; Chapter 7 provides for the registration of Investment Advisers and Investment Adviser Representatives; and Chapter 8 provides for certain provisions that apply to all securities professionals.