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2020-05-29

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Securities Industry (Fees)(Amendment) Rules, 2020

The Securities Commission of The Bahamas amends the Schedule to the Securities Industry (Fees) Rules to introduce new fee structures for Contracts for Differences (CFD) entities. Registered CFD firms are required to pay a quarterly activity fee of $45,000.00 in addition to their annual renewal fee, unless exempted or reduced by the Commission. Additionally, a specific fee of $5,000.00 is established for the CFD Supervisory Officer role.

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EXTRAORDINARY OFFICIAL GAZETTE THE BAHAMAS PUBLISHED BY AUTHORITY NASSAU 23rd NASSAU 11 August, 2011 th NASSAU October, 2019 26th May, 2020

SECURITIES INDUSTRY (FEES)(AMENDMENT) RULES, 2020 Arrangement of Rules Rule

  1. Citation..............................................................................................................2
  2. Amendment to Schedule of S.I. No. 11 of 2012 ...............................................2

MINISTRY OF FINANCE S.I. No. 77 of 2020 The Securities Commission, in exercise of the powers conferred by section 22 of the Securities Industry Act, 2011 makes the following Rules —

  1. Citation.
  2. Amendment to Schedule of S. I. No. 11 of 2012. Page - 2 SECURITIES INDUSTRY ACT, 2011 (NO. 10 OF 2011) SECURITIES INDUSTRY (FEES)(AMENDMENT) RULES, 2020 These Rules may be cited as the Securities Industry (Fees)(Amendment) Rules,

The Schedule to the Securities Industry (Fees) Rules is amended — (a) in Table B, by the insertion immediately after row (e) of the following — “(f) Persons seeking to register to deal in Contracts for Differences Except where exempted or reduced by the Commission, a registered CFD firm shall in addition to paying the annual renewal fee prescribed, pay a quarterly activity fee of $45,000.00”; $2,500.00 $15,000.00 $30,000.00

Page - 3 Made this 25th day of May, 2020. Signed Chairman Securities Commission of The Bahamas (b) in Table C, by the insertion immediately after row (e) of the following — “(f) CFD Supervisory Officer $1,000.00 $3,000.00 $5,000.00”.

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