The System Fees Regulation (M.R. 58/2023) under The Commodity Futures Act establishes a framework for system fees related to the transmission of filings through SEDAR+ (System for Electronic Data Analysis and Retrieval) and outlines the obligations of sponsoring firms. This regulation replaces the previous NRD (National Registration Database) System Fees Regulation, Manitoba Regulation 159/2013, detailing the necessary fees, definitions, and compliance conditions.

The regulation begins by defining key terms such as “principal regulator,” “system fee,” and “sponsoring firm.” The principal regulator is identified according to National Instrument 13-103, and SEDAR+ is referenced within the same instrument.

Two primary types of system fees are specified. The first, Transmission Fees, which imposes fees on persons or companies based on their filing types. For instance, sponsoring firms must pay an $86 fee for the registration or reactivation of each individual registrant. Additionally, a pre-filing fee of $350 applies to all filers, with conditions that allow for reduced fees on subsequent applications. The second type, Annual Registrant System Fees, mandates that each sponsoring firm pay an annual fee of $86 for every individual registrant it sponsors.

All system fees are required to be paid through SEDAR+, although there is a transitional provision allowing certain fees to be paid via the National Registration Database (NRD) until further requirements are established under National Instrument 33-109. The regulation also allows for exemptions, enabling the commission to waive fee payments under specific conditions, thus reflecting a degree of flexibility in the regulatory framework.

Manitoba (58/2023) June 2, 2023