Law and Policy

Fees

Fees under The Securities Act (Manitoba) and The Commodity Futures Act are set out as follows:

Category Securities Commodities

Firm Registration

$750 $1,000
Amendment of firm registration $100 $100
Individual Registration $300 $300
Reactivation of individual registration (three or more months) $300 $300
Reinstatement of individual registration (less than three months) $75 $75
For each business location or new business location of a registered firm $200 $200
Indivdual termination notice $50 $50
Amalgamation or merger of two or more registrants $100
Miscellaneous applications $650

NRD Systems Fees for SEDAR and NRD Regulation -The Securities Act (Manitoba)

NRD System Fees Regulation - The Commodity Futures Act

Fees are to be paid by electronic funds transfer through the National Registration Database (NRD). If a firm has been granted an exemption from the requirement to pay fees through NRD under Part 4 of National Instrument 31-102 National Registration Database, fees can be paid by cheque made payable to: Minister of Finance Manitoba.

Annual National Registration Database user fee

• NRD submission fee:

  • $75 for each Form 33-109F4 submitted for each individual applying for registration or review as a permitted individual in the principal jurisdiction, and
  • $20.50 for each Form 33-109F4 submitted for each individual applying for registration or review as a permitted individual in each  additional jurisdiction. (This fee was previously $50 in each additional jurisdiction up to a maximum of 5.)

• Annual NRD system fee:

  • $75 for each registrant or permitted individual in the principal jurisdiction, and
  • $20.50 for each registrant or permitted individual in each additional jurisdiction.  (This fee was previously $50 in each additional jurisdiction up to a maximum of 5.)

As per MI 13-102, NRD system fees are payable to securities regulatory authorities, and consequently these fees are exempt from taxation. 

Note: Taxes, as applicable, will be charged on all NRD submissions submitted prior to October 12, 2013. Submissions that are in an AFR’ work in progress where fees have not been ‘acknowledged’ as of October 12, will not be charged taxes. Historical payment information, including taxes, will remain on NRD for reconciliation purposes.

Annual NRD user fees are due on December 31 of each year, as a payment for the following year.

If an individual's registration with a firm has been terminated, the firm can avoid being charged user fees for that individual by submitting an Annual Fee Exclusion/Reversal through NRD. The form must be filed by December 31 of the year the individual's registration was terminated.

Firms are required to submit a notice of termination/surrender of registration for these individuals within 10 business days beginning the January of the year following the termination/surrender.

Category Fee

Prospectus - Investment Fund Issuer

$1,000 per fund, plus $325 for each additional class of security, involved in the prospectus

Prospectuses - Other Issuers, except base shelf prospectuses

$1,000 per issuer, plus $325 for each additional class of security, plus $75 for each additional technical report of a mineral project to a maximum of $300, involved in the prospectus

Base shelf prospectuses

$1,000

Prospectus Supplements

$1,000 plus $325 for each additional class of security, except $0 if a pricing supplement as defined in National Instrument 44-102.

Preliminary Prospectus Amendments

$325 for each new class of security added in the amendment

Prospectus Amendments - Investment Fund Issuers

$175 per fund if financial statements are being added or amended, otherwise $100 per fund, plus $325 for each new class of security added in the amendment

Prospectus Amendments - Other Issuers, except amendments to base shelf prospectuses

$175 per issuer if financial statements are being added or amended or if a technical report of a mineral project is being added or amended, otherwise $100 per issuer, plus $325 for each new class of security added in the amendment

Amendments to Base Shelf Prospectuses

$100

Rights Offerings

$250

Annual Financial Statements

$100 per issuer/fund

Annual Information Forms

$1,000 per issuer/fund

Search for and copies of filed public documents

$2 plus $0.50/page copied

SEDAR filers can access a similar Fee Schedule Summary at: http://www.securities-administrators.ca/SEDAR/FeeGuide.aspx?id=800

The late filing of an insider report is $50 per calendar day per insider per issuer to a maximum of $1,000 in any period from April 1 to March 31, but this fee does not apply in relation to an insider if there is an obligation to pay a late filing fee in respect of that insider in a jurisdiction other than Manitoba during the same period.

These fees are for some of the more common applications and filings made for exemption applications or to report exempt trades. As more detailed description of fees can be found in the Fee Regulation

An application for exemption pursuant to section 20 of the Act from filing a preliminary prospectus, if no other exemption from section 37 is required, is:

$100

An application for any other exemption pursuant to section 20 of the Act is the amount of the fees that would be payable if no exemption were granted, provided that, the commission may, having regard both to the probable volume of the trading permitted by the exemption and to the time required to process and consider the application, reduce the fee in any particular case, to an amount not less than:

$350

For example, for an application under section 20 from the prospectus requirement, the fee would be $1,000. For an application under section 20 from the requirement to be registered as a dealer, the fee would be

$750

An application for an order under section 59 of the Act is the amount of fees that would be payable on any filings or registrations that would be required in order to effect the trade concerned if no ruling were made, provided that the Commission may, having regard both to the probable value of the trading permitted by the ruling and to the time required to process and consider the application, reduce the fee in any particular case, to an amount not less than:

$275

The fee for filing of a notice of intention to trade in accordance with Form 23:

$650

The fee for filing an offering memorandum under the Act is

$650

The fee for any other exemption or filing not set out in the Fee Regulation, other than a document referred to in:

(i) Part IX, X, XI, or XII of the Act; or
(ii) any provision of the Regulations relating to Parts IX, X, XI, or XII of the Act, is:

$25

For example, the fee to file a report of exempt trade in accordance with Form 45-106F1 is

$25

The fee for an application to be deemed a reporting issuer or to cease to be a reporting issuer is

$25

The fee for an application for an order under section 95 of the Act, is:

$550

provided that the Commission may, having regard both to the probable value of the trading permitted by the exemption and to the time required to process and consider the application, reduce the fee in any particular case, but to an amount not less than:

$275