In plain terms
It is an annual charge, not a one time cost, and it is paid to the state through the data broker portal together with a processing fee. Registration and payment go together: the entry on the public registry is what the fee buys, and that entry is what a consumer, a regulator, or a customer's counsel can look up. The registration form has grown over time, and now asks for expanded disclosures about the categories of data collected and who it is shared with.
What it means for a registered broker
Diary it. January 31 lands in the same weeks as a lot of other annual filings, and the fee is not the expensive part of missing it. Failing to register carries a penalty of up to $200 per day counted from the deadline, which is why the published enforcement amounts against late registrants run so far above the fee itself. Prepare the disclosure answers in advance rather than on the day, keep the confirmation number with your broker ID, and set next year's reminder the moment you file. This is not legal advice.
- Where it comes from
- Delete Act, SB 362 (2023)