Official Comments

Prior Provisions: 1956 Act Section 202(b); RUSA Section 206.

1. Each state should determine the appropriate fee for each type of registration and for each type of renewal, denial, or withdrawal of a registration.

2. Similarly each state should determine whether it wishes to remove the brackets from Section 410(g) and charge a single fee for dually registered agents and investment adviser representatives.

3. If a State prefers to have the fees in this section established by rule, amend this section to read as follows, inserting the appropriate reference to the State's administrative procedure act:

§16410.__Filing fees

1.__Fees established by administrator.__The administrator shall establish by rule fees in accordance with the following:

A.__A fee not to exceed $500 for an initial filing of an application as a broker-dealer and renewal of an application by a broker-dealer for licensing.__If the filing results in a denial or withdrawal, the administrator shall retain the fee;

B.__A fee not to exceed $200 for an application for licensing as an agent and renewal of licensing as an agent.__ If the filing results in a denial or withdrawal, the administrator shall retain the fee;

C.__A fee not to exceed $500 for an application for licensing as an investment adviser and renewal of licensing as an investment adviser.__If the filing results in a denial or withdrawal, the administrator shall retain the fee;

D.__A fee not to exceed $200 for an application for licensing as an investment adviser representative and renewal of licensing as an investment adviser representative.__If the filing results in a denial or withdrawal, the administrator shall retain the fee;

E.__An amount not to exceed $500 for an initial fee and annual notice fee for a federal covered investment adviser