May 3, 1989
TO: STATE SECURITIES MEMBERS NO. 15-89
BLUE SKY GUIDE RECIPIENTS
RE: NEW YORK STATE DOUBLES REGISTRATION FEE FOR INVESTMENT
COMPANIES
__________________________________________________________
Attached is a new schedule of fees which the New York State
Department of Law made effective April 1, 1989. The fee for an
M-1A filing, necessary for the registration and renewal of open-
end investment companies in New York State, has increased from
$400 to $800 for a four-year term. Additionally, the fee for
"Supplemental Broker-Dealer Statement" (Form M-3), which non-NASD
member broker-dealers need to file with New York to notify the
state of changes in their registration statement, has been raised
from $10 to $20. A spokesman from the Department of Law informed
the Institute that the fees for the required designation and
state notices have not changed. (These are the fees that are
sent to Albany.)
For those of you who have the Institute's Blue Sky Guide,
we have attached a revised one-page summary for the state of New
York. Additionally, because of two unrelated matters, we have
attached one-page summaries for Montana and Alaska. At the
request of the Montana Division of Securities, we revised the
wording for their registration fee requirement on the one-page
summary. Also, we have just been informed that Alaska has
changed their sales report requirement. Instead of semi-annual
sales reports, Alaska now requires annual sales reports on Form
USR-1, 30 days after fiscal year-end. Because we learned of
these changes after sending the update to our Blue Sky Guide to
the printer, these one page summaries will be more current than
the update that you will receive shortly.
Susan S. Burgess
Legal Assistant
Attachments