The Canadian Securities Administrators (CSA) has published for comment proposed amendments (the Proposed Amendments) to Multilateral Instrument 13-102 System Fees for a 90-comment period ending February 19, 2025.
The Proposed Amendments would see system fees for SEDAR+ and the National Registration Database (NRD) increased over five years, starting in late 2025. The system fee would increase by 60 per cent in November 2025 and by three per cent each of the following four years.
The regulator says the system fee increases are necessary to ensure sufficient funding to operate the CSA’s national systems like SEDAR+ and the NRD. Under the Proposed Amendments the total system fees collected by the CSA would increase, however no new system fees would be introduced, and the flat-fee structure would be retained.
The regulator also believes that since system fees are based on the type and number of filings submitted and the number of individual registrants, the proportional fee increases would equitably impact all market segments.
CSA Notice and Request for Comment – Proposed Amendments to Multilateral Instrument 13-102 System Fees is available for download from the websites of the participating jurisdictions.
Note: The BC Securities Commission (BCSC) is not publishing the Proposed Amendments and changes for comment while it awaits necessary government approvals following the B.C. provincial election.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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