Regulation on Tariffs for Regulatory Purposes and for the Services of the Securities Market Superintendency, modified by Resolution R-CNMV-2026-06-MV

Consolidated text as of April 21, 2026 · Page 1 of 14 This document was prepared by the Securities Market Superintendency for the purpose of facilitating the consultation of the current provisions of the Regulation on Tariffs for Regulatory Purposes and for the Services of the Securities Market Superintendency, as well as the modifications incorporated into it. The details of the applicable versions and regulatory instruments are presented in the version control chart included below. The official texts are available at:
https://simv.gob.do/resoluciones/. This document is for informational purposes; in case of discrepancy, the published official texts prevail.

VERSION CONTROL

Version	Instrument	Date	Description	Entry into force
1	R-CNMV-2018-10-MV	First Resolution of the National Securities Council	11/12/2018	Approval of the original text of the Regulation and its Annexes I and II.	From its publication.
2	R-CNMV-2021-26-MV	Fifth Resolution of the National Securities Council	21/09/2021	Instructs the Superintendent to notify such indexing to market participants via circular, which was done through Circular 08-2021, dated 28/10/2021.	From 01/01/2022.
3	R-CNMV-2026-06-MV	Third Resolution of the National Securities Council	21/04/2026	Modification of Articles 7 and 8 and of Annexes I and II of the Regulation.	From the business day following its publication.

REGULATION ON TARIFFS FOR REGULATORY PURPOSES AND FOR THE SERVICES OF THE SECURITIES MARKET SUPERINTENDENCY Consolidated text as of April 21, 2026

TITLE I
GENERAL PROVISIONS

Article 1. Objective. This regulation aims to establish the amount and method of calculation of regulatory tariffs for registration, maintenance, and supervision of participants in the securities market, for the negotiations and operations carried out in the securities market as provided in Article 8 of Law No. 249-17 on the Securities Market of the Dominican Republic of December 19, 2017 (hereinafter, the "Law").

Article 2. Scope. The Regulatory Tariffs shall apply to:

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I. To the following securities market participants for the concept of registration and maintenance in the Securities Market Registry (hereinafter, the "Registry"), as well as for the concept of supervision of the same by the Securities Market Superintendency (hereinafter, the "Superintendency"):
a) Issuers of public offer securities. b) Securities intermediaries. c) Administrators of centralized trading mechanisms, for themselves and for the administered mechanisms. d) Centralized securities depositories. e) Administrators of clearing and settlement systems. f) Central counterparty entities. g) Administrator of the systems for recording securities transactions, for themselves and for the administered systems. h) Investment fund management companies, for themselves and for the administered funds; i) Securitization companies, for themselves and for the administered separate estates. j) Trust companies of public offer trusts, for themselves and for the administered trust estates. k) Investment promoters. l) Securities brokers. m) Rating agencies. n) External auditors. o) Price providers. p) Investment advisors. q) Anonymous companies, as provided in Article 37 of the Law.

II. To those who carry out negotiations and operations in the securities market for the concept of supervision of such operations and negotiations, carried out with public offer securities and other negotiable instruments.

III. Any others approved by the National Securities Council (hereinafter, the "Council") and registered in the Registry by regulatory requirement.

Article 3. Definitions. For the application of this regulation, the following shall be understood:
a) Regulatory Tariff. It is the absolute amount or percentage fixed by the Council through this Regulation to establish the charges to cover the services provided by the Superintendency, as established in Article 8 of the Law. Paragraph. Among other factors, the amount of the regulatory tariff varies depending on the resource requirements used to perform analysis, monitoring, supervision, and control tasks. b) Regulatory Tariff for Registration in the Registry. Amount established to cover costs related to the analysis of documentation provided in the registration process and the authorization request in the Registry when applicable.

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c) Periodic Regulatory Tariff for Maintenance and Supervision of Registered Participants. Periodic payment established to cover costs related to the maintenance and supervision services of the Superintendency. d) Regulatory Tariff for Supervision of Negotiations and Operations in the Securities Market. Variable amount payment determined to meet the needs of supervising negotiations and operations carried out in the securities market. e) SME. Companies considered as such in accordance with the asset and income parameters established by Law No. 488-08, which establishes a Regulatory Regime for the Development and Competitiveness of Micro, Small, and Medium Enterprises (MSMEs), of December 9, 2008, and its modification through Law No. 187-17 of July 28, 2017, and its regulations, formally established and certified by the Ministry of Industry, Commerce, and MSMEs, eligible for differentiated treatment in the Superintendency's service tariff schedule.

TITLE II
SUPERINTENDENCY INCOME

CHAPTER I
Other Income

Article 4. Other Income of the Superintendency. In addition to the Regulatory Tariff, the Superintendency may receive income from the collection of activities developed for the market or the general public in accordance with Annex II, technical cooperations, donations, the transfer assigned to the Superintendency in the General National Budget, and for administrative sanctions imposed.

Paragraph I. In application of Article 8, Paragraph I, numeral 2) of the Law, charges for activities developed for the market or the general public are considered to be the amounts received for the issuance of certificates to non-state entities, granting specialized exams, sale of publications, sale of educational material, holding events, trainings, seminars, and other similar concepts fixed by the Council.

Paragraph II. Income derived from the application of administrative sanctions may only be used for training participants, acquiring technology and equipment to improve the services and operations of the Superintendency for the benefit of the securities market; for investor protection and education programs; and for holding activities, trainings, seminars, and others.

CHAPTER II
Regulatory Tariffs

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Article 5. Regulatory Tariff Schedule. It is Annex I which forms an integral part of this Regulation and is divided according to the following alphanumeric tariff classification system:
a) Regulatory Tariff A. For registration in the Registry, which shall be indexed annually, according to the Consumer Price Index published by the Central Bank of the Dominican Republic. b) Regulatory Tariff B. For maintenance and supervision of securities market participants and their activities, as well as for securities registered in the Registry, which shall be indexed annually, according to the Consumer Price Index published by the Central Bank of the Dominican Republic, if applicable. c) Regulatory Tariff C. For supervision of negotiations and operations in Centralized Trading Mechanisms and the OTC Market. d) Regulatory Tariff Nomenclature. The following are established: 1) Public offer securities issuers, 2) Securities intermediaries, 3) Securities market infrastructure, 4) Autonomous estates, 5) Securities market service providers, 6) Public offer of securities and other negotiable instruments, 7) Securities custody, 8) Negotiations and operations in Centralized Trading Mechanisms and the OTC Market, and 9) Others.

Paragraph. Each Regulatory Tariff number shall be followed by the corresponding sub-numbers established in Annex I.

Article 6. Exemptions. The following exemptions are enabled:
a) Public offer securities issuers classified as SMEs and their public offers of securities are exempt from Regulatory Tariffs A and B. b) Subscriptions in the primary market, securities mutual funds, margin loans, and monetary policy repos are exempt from Regulatory Tariff C.

TITLE III
PAYMENTS TO THE SUPERINTENDENCY

CHAPTER I
Payment Method and Periodicity

Article 7. Payment Method [Modified by Article 1 of R-CNMV-2026-06-MV]. The payment method for the tariffs indicated in Article 5 of this Regulation shall be as follows:
a) Regulatory Tariffs A and B shall be paid to the Superintendency by the securities market participant. b) Regulatory Tariff C shall be charged to persons who carry out operations and negotiations in the securities market.

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Paragraph I. Payments must be made through checks and/or bank transfers, indicating the concept thereof on the payment receipt. The mechanism to make the payment shall be established by the Superintendency.

Paragraph II. In the event that a securities market participant wishes to carry out an additional activity permitted subject to the payment of Regulatory Tariffs A and B, they shall cover the additional cost for the corresponding concept. In the case of an increase in the authorized amount for emission programs or the issuance of public offer securities, they must pay Regulatory Tariff A in proportion to the added amount.

Paragraph III. Regulatory Tariff B applies to the participants indicated from the registration in the Registry in the proportion corresponding to the close of the current fiscal year. In the particular case that a securities intermediary increases its asset range, they must pay the corresponding proportion of Regulatory Tariff B.

Paragraph IV. Regulatory Tariff B for Custody Supervision shall be collected by deducting the corresponding proportion of the sums that must be paid by the centralized securities depository in its capacity as payment agent. Securities intermediaries shall be responsible for communicating to their clients the charges applicable for Regulatory Tariff B for the indicated concept. In the event that securities are transferred prior to the payment of the corresponding property rights, unless the involved parties expressly agree otherwise, securities intermediaries must calculate and deduct the proportion of Regulatory Tariff B for Custody Supervision accumulated (running custody) from the operation amount.

Paragraph V. The responsibility to transparent, calculate, and transfer the amount per point corresponding to Regulatory Tariff C shall rest with the administrators of centralized trading mechanisms or the administrators of systems for recording securities transactions, as applicable, without prejudice to what is provided in Article 17, Paragraph II, of this Regulation.

Article 8. Payment Periodicity [Modified by Article 2 of R-CNMV-2026-06-MV]. The payment periodicity for the tariffs indicated in Article 5 of this Regulation shall be as follows:
a) The person who deposits documents for the purpose of seeking authorization and registration in the Registry must pay the tariff for said concept indicated in Annex II prior to depositing their request. In the event of dismissal or voluntary withdrawal of the request, the paid amount shall not be refunded or applicable to other requests; if the applicant wishes to again seek authorization and registration in the Registry, they must pay the tariff for said concept indicated in Annex II, which shall have an additional charge of sixty percent (60%) over the original tariff. b) Regulatory Tariff A applied to securities market participants must be paid prior to registration in the Registry for each of the subjects or payment sources listed in Annex I.

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c) Regulatory Tariff B shall be payable as established in Annex I. Payments must be made in advance within the first ten (10) business days of each quarter. d) Regulatory Tariff B applicable to autonomous estates shall be calculated based on the daily average of administered assets. Payments must be made within the first ten (10) business days of the month following each quarter. For investment funds, it shall enter into force from the moment they are in the operational phase.

Paragraph. Regulatory Tariff B applicable to fixed-income autonomous estates shall be calculated based on the outstanding placed amount at the close of the quarter. Payments must be made within the first ten (10) business days of the month following each quarter. e) Regulatory Tariff B for Custody Supervision shall be calculated on the monthly average custody balance corresponding to public offer securities registered in the securities accounts opened in centralized securities depositories. The collection thereof shall be made by deducting the corresponding proportion of the sums that must be paid by the centralized securities depository in its capacity as payment agent. In the event that securities are transferred prior to the payment of the corresponding property rights, unless the involved parties expressly agree otherwise, securities intermediaries must calculate and deduct the proportion of Regulatory Tariff B for Custody Supervision accumulated (running custody) from the operation amount. Payments to the Superintendency shall be made no later than within seven (7) business days following the close of the month to which the charge corresponds. f) Regulatory Tariff C shall be calculated based on each point-registered pact as established in Annex I and paid within the first ten (10) business days of the month following each quarter.

CHAPTER II
Non-Compliance

Article 9. Non-Compliance with Payments. For the collection of owed payments, the enforcement procedure established in the Tax Code enabled by virtue of the Law shall be followed.

Paragraph. Recidivism in non-compliance with payment for more than three (3) consecutive times of Regulatory Tariffs B or C, as applicable, shall result in the suspension of the Registry, in accordance with Article 40 numeral 1 of the Law.

TITLE IV
REVISIONS AND MODIFICATIONS TO THE TARIFF SCHEDULE

Article 10. Determination of New Regulatory Tariffs. The Superintendency may request the Council to determine Regulatory Tariffs for natural or legal persons, securities, public offers, activities, or others that are not expressly provided for in this Regulation.

Article 11. Review and Modification of the Tariff Schedule. The amounts established in the tariff schedule shall be indexed annually from the entry into force of this Regulation, as applicable, according to the inflation index presented by the Central Bank of the Dominican Republic. Such indexing shall be performed by the Superintendent of the Securities Market and published on the Superintendency's website.

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Paragraph. For the modification of the concept, calculation method, and payment periodicity, modification of this Regulation by the Council shall be required, subject to the qualified majority approval provided in the Law.

TITLE V
FINAL PROVISIONS

Article 12. Sectoral Regulation. To comply with what is provided in this Regulation, securities market participants, when establishing their tariff structure, must observe the applicable sectoral legal provisions for the different intervening parties. To this end, the Superintendency is enabled to authorize the operability of this Regulation regarding the particularity of sectors that have special legislation.

Article 13. Mandatory Nature. The provisions established in this Regulation and its Annexes are mandatory in all their parts.

Article 14. Repeal. This Regulation repeals any provision issued prior to it regarding the income and tariffs of the Superintendency.

Article 15. Entry into Force. The provisions of this Regulation shall enter into force from their publication.

[Added by Article 8 of R-CNMV-2026-06-MV]. The provisions of Resolution R-CNMV-2026-06-MV shall enter into force from the business day following its publication.

Paragraph [Added by Article 8 of R-CNMV-2026-06-MV]. Autonomous estate management companies shall have a period of thirty (30) business days to make the necessary adjustments to the emission documents required to incorporate the tariff applicable for the concept of modification of autonomous estate documents indicated in Resolution R-CNMV-2026-06-MV.

This document was prepared by the Securities Market Superintendency for the purpose of facilitating the consultation of the current provisions of the Regulation on Tariffs for Regulatory Purposes and for the Services of the Securities Market Superintendency, approved by the First Resolution of the National Securities Council, R-CNMV-2018-10-MV, dated December 11, 2018, as well as its subsequent modifications: the tariff indexing provided by Circular 08-2021 of the Securities Market Superintendency, dated October 28, 2021, and the modifications introduced by the Third Resolution of the National Securities Council, R-CNMV-2026-06-MV, dated April 21, 2026. The official texts are published at:
https://simv.gob.do/resoluciones/

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ANNEX I "REGULATORY TARIFF SCHEDULE"
[Modified by Articles 3, 4, 5, and 6 of R-CNMV-2026-06-MV]

REGULATORY TARIFFS OF THE SECURITIES MARKET SUPERINTENDENCY IN DOP

TARIFF A. REGISTRATION IN THE SECURITIES MARKET REGISTRY	TARIFF B. MAINTENANCE AND SUPERVISION OF PARTICIPANTS AND CUSTODY
TARIFF NO.	SUBJECT/PAYMENT SOURCES	TARIFF IN DOP	PERIODICITY	TARIFF IN DOP	CALCULATION BASE	PAYMENT FREQUENCY
1	Public Offer Securities Issuers
1.1	Issuers [1]	-	-	56,000	Annual	Annual
1.2	Differentiated Issuers	-	-	-	-	-
2	Securities Intermediaries
2.1	Securities Intermediaries	-	-		Asset Range Level 1	Assets x 1.0%	One-time payment	2,240,000	Annual	Quarterly
					Asset Range Level 2	Assets x 1.0%	One-time payment	3,360,000	Annual	Quarterly
					Asset Range Level 3	Assets x 1.0%	One-time payment	4,480,000	Annual	Quarterly
2.2	Securities Agents	Assets x 1.0%	One-time payment	560,000	Annual	Quarterly
2.3	Securities Brokers	22,400	One-time payment	16,800	Annual	Quarterly
3	Securities Market Infrastructure
3.1	Administrators of Centralized Trading Mechanisms	Assets x 1.0%	One-time payment	3,360,000	Annual	Quarterly
3.2	Centralized Trading Mechanisms	168,000	One-time payment	-	-	-
3.3	Centralized Securities Depositories	Assets x 1.0%	One-time payment	13,440,000	Annual	Quarterly
3.4	Administrators of Clearing and Settlement Systems	Assets x 1.0%	One-time payment	2,240,000	Annual	Quarterly
3.5	Clearing and Settlement Systems	168,000	One-time payment	-	-	-
3.6	Central Counterparty Entities	Assets x 1.0%	One-time payment	3,360,000	Annual	Quarterly
3.7	Administrators of Systems for Recording Securities Transactions	Assets x 1.0%	One-time payment	560,000	Annual	Quarterly
3.8	Systems for Recording Securities Transactions	168,000	One-time payment	-	-	-
4	Autonomous Estates
4.1	Investment Fund Management Companies	Assets x 1.0%	One-time payment	840,000	Annual	Quarterly
4.2	Open Investment Funds	336,000	One-time payment		Administered Assets x 0.03%	Annual	Quarterly
4.3	Closed Investment Funds	168,000	One-time payment		Administered Assets x 0.03%	Annual	Quarterly

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4.4	Securitization Companies	Assets x 1.0%	One-time payment	840,000	Annual	Quarterly
4.5	Separate Estates - Equity Securities	168,000	One-time payment		Administered Assets x 0.03%	Annual	Quarterly
4.6	Separate Estates - Fixed Income Securities	168,000	One-time payment		Placed Amount x 0.03%	Annual	Quarterly
4.7	Trust Companies of Public Offer Trusts	Assets x 1.0%	One-time payment	840,000	Annual	Quarterly
4.8	Public Offer Trusts - Equity Securities	168,000	One-time payment		Administered Assets x 0.03%	Annual	Quarterly
4.9	Public Offer Trusts - Fixed Income Securities	168,000	One-time payment		Placed Amount x 0.03%	Annual	Quarterly
5	Securities Market Service Providers
5.1	Investment Promoters (Natural Person)	16,800	One-time payment	5,600	Annual	Annual
5.2	Investment Promoters (Legal Entity)	168,000	One-time payment	56,000	Annual	Annual
5.3	Rating Agencies	280,000	One-time payment	112,000	Annual	Quarterly
5.4	External Auditors	168,000	One-time payment	-	-	-
5.5	Price Providers	168,000	One-time payment	84,000	Annual	Quarterly
5.6	Investment Advisors (Legal Entities)	280,000	One-time payment	112,000	Annual	Annual

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5.7 Investment Advisors (Natural Persons) 16,800 One-time payment 5,600 Annual Annual

6 Public Offer of Securities and Other Negotiable Instruments

6.1 Public Offer for Acquisition of Shares / Competing Public Offer for Acquisition of Shares 280,000 One-time payment - - -

6.2 Public Offer of Fixed Income Securities and Commercial Paper by program registration 10,000 One-time payment - - -

6.3 Public Offer of Fixed Income Securities and Commercial Paper by subscription. MC x 0.005% One-time payment after each placement - - -

6.4 Public Offer of Fixed Income Securities with maturity greater than 1 year up to 2 years MA x 0.04% One-time payment - - -

6.5 Public Offer of Fixed Income Securities with maturity greater than 2 years MA x 0.05% One-time payment - - -

6.6 Public Offer of Variable Income Securities VN x 0.03% One-time payment - - -

6.7 Public Offer of Differentiated Issuers VN x 0.05% One-time payment - - -

6.8 Public Offer of Other Negotiable Instruments VN x 0.20% One-time payment - - -

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6.9 Public Offer of thematic bonds linked to sustainability. Authorized Amount x 0.01% One-time payment - - -

7 Custody of Securities [3]

7.1 Charge for Custody Supervision - - DOP 11.20 for each DOP 1 million custodied or its equivalent in DOP Monthly Monthly

8 Others

8.1 Anonymous Societies (Article 37 of the Law) 28,000 One-time payment - - -

TARIFF C. TRADING MECHANISMS AND OPERATIONS

TARIFF NO. Charge by Instrument/Mechanism [3] Charge by Tip for each DOP 1 million traded or its equivalent in DOP Calculation Base Payment Frequency

1 Centralized Trading Mechanisms (CTM)

1.1 Fixed Income via Centralized Trading Mechanisms (CTM) 11.20 By Registration of the Pact Quarterly

1.2 Variable Income via Centralized Trading Mechanisms (CTM) 5.60 By Registration of the Pact Quarterly

1.3 Derivatives via Centralized Trading Mechanisms (CTM) 14.00 By Registration of the Pact Quarterly

2 OTC Registration System

2.1 Fixed Income via OTC Registration System 25.20 By Registration of the Pact Quarterly

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2.2 Derivatives via OTC Registration System 22.40 By Registration of the Pact Quarterly

Notes:
[1] Does not apply to Autonomous Wealth Management Companies when issuing against said wealth.
[2] The indicated tariffs will be calculated on an annualized basis.
[3] The indicated tariffs will be applied in proportion corresponding to their respective bases (DOP 1 million).

Legend:
VN: Nominal value for the quantity of securities to be registered in the Registry OTC: OTC Registration System CTM: Centralized Trading Mechanism MA: Approved Amount

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ANNEX II "FEES FOR ADMINISTRATIVE SERVICES"
[Modified by Article 7 of R-CNMV-2026-06-MV]

Service Fee RD$ Charge Concept
Certification 560 Fee for each certification requested Certified Copy 112 Fee up to a maximum of 5 pages 17 Fee for each additional page Non-Certified Copy 112 Fee up to a maximum of 5 pages 11 Fee for each additional page Document Deposit 5,600 Natural Person Document Deposit 56,000 Legal Person Modification of documents of autonomous wealths requiring approval by the holders' assembly 75,000 Fee for each request made.