Regulatory Alerts2025-01-03
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Securities Industry (Fees) Rules, 2024
The Securities Commission of The Bahamas establishes specific fee schedules for securities industry participants, including registration, annual renewal, and filing fees. The rules detail charges for various entity categories, such as CFD firms and registered individuals, with amounts ranging from $475.00 for individual registration to $45,000.00 for CFD firm registration. Filing fees are also prescribed for prospectuses, exempt transactions, and corporate administrative actions, with some financial statement filings exempt if submitted within prescribed timeframes.
EXTRAORDINARY OFFICIAL GAZETTE THE BAHAMAS PUBLISHED BY AUTHORITY NASSAU 23rd December, 2024
223
MINISTRY OF FINANCE
Page - 2 S.I. No. 107 of 2024
Page - 3
Page - 4 Securities Industry (Fees) Rules, 2024 (e) Persons seeking to register for more than one category under (a) - (d) above $ 3,125.00 Full fee for function with the highest fee and $4,000.00 for each additional category Full fee for function with the highest fee and $ 6,250.00 for each additional category (f) Persons seeking to register to deal in CFD $ 5,000.00 $ 20,000.00 $ 45,000.00 (g) 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 in accordance with the Commission’s current published policy with respect to activity fees. (h) CFD Supervisory Officer $ 1,250.00 $ 3,750.00 $ 6,250.00 C. Fees For Person Registered Under Part VII (Individuals) Fee Type Category of Registration Application Fee Registration Fee Annual Renewal Fee Chief Executive Officer $ 575.00 $ 800.00 $ 800.00 Compliance Officer $ 575.00 $ 800.00 $ 800.00 Registered representative - dealing/trading $ 475.00 $ 725.00 $ 725.00 Registered representative - discretionary management $ 475.00 $ 725.00 $ 725.00 Registered representative - advising only $ 475.00 $ 725.00 $ 725.00 Page - 4
Page - 5 Securities Industry (Fees) Rules, 2024 D. Filing Fees Under Parts XI and XII Description Filing Fee Filing of preliminary prospectus $ 2,500.00 Filing - prospectus 0.1% of issue value of securities minimum of $25,000.00 Filing on an amended prospectus $ 1,000.00 Filing of documents by approved foreign issuer exempted under regulation 115 of the Securities Industry Regulations (Ch. 363) $ 3,125.00 Filing of notice of exempt transaction $ 4,000.00 Filing of takeover bid document 0.1% of value of the bid Filing of director's circular $ 2,500.00 Filing of management proxy statement $ 1,000.00 Filing of interim financial statements No fee (if filed within prescribed time period) Filing of audited financial statements No fee (if filed within prescribed time period) E. Administrative Fees Description Administrative Fee Appointment or change in directors $ 625.00 Approval of issue, transfer or disposal of shares $ 625.00 Letters of good standing $ 500.00 Replacement certificate $ 500.00 Name change $ 500.00 Extension to file interim statements for a 1-month period for a maximum of 2 extension requests $ 700.00 Page - 5
Page - 6 Securities Industry (Fees) Rules, 2024 Extension to file audited statements for a 6-month period (for a maximum of 2 extension requests) $ 1,000.00 Surrender of registration certificate $ 500.00 Application for exemption or Waiver request $ 500.00 Made this day of , 2024 Hon. Justice K. Neville Adderley M.B. (Ret.) Chairman The Securities Commission of The Bahamas Page - 6 Made this 23rd day of December, 2024 Signed Hon. Justice K. Neville Adderley M.B. (Ret.) Chairman The Securities Commission of The Bahamas
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