Kansas Insurance Commissioner Vicki Schmidt halts millions in Securities Act fees for second year in a row

Kansas Insurance Commissioner Vicki Schmidt halts million in Securities Act fees for second year in a row

Topeka, Kan. - Kansas Insurance Commissioner Vicki Schmidt, today, announced that fees for securities registrants will be waived for fiscal year 2027, beginning July 1. Implementing this moratorium will yield an estimated reduction of fees by $9 million, which the Department was set to collect from new and existing registrants.

"This moratorium continues the work I have done to lower the cost of doing business and right-size government," said Commissioner Vicki Schmidt. "When Kansans have more money in their pockets they can reinvest in Kansas, which helps us all."

The Department has drastically reduced the majority of fees payable under the Kansas Uniform Securities Act (KUSA), including a complete moratorium in fiscal years 2022, 2023, and 2026 as well as a 50 percent reduction in fiscal years 2024 and 2025. These include the registration fees of broker-dealer firms, broker-dealer agents, investment adviser firms, investment adviser representatives, and other entities.

Including the reductions in fees under the KUSA, Commissioner Schmidt has reduced the cost of doing business in Kansas by over $100 million dollars since 2019. For any questions about securities fees please contact [email protected].