why the nrd was formed
securities regulators recognized that the registration process could be drastically improved by introducing an electronic system that would replace the existing paper based system a national web based registration system could help the csa achieve its long term goals of easing the regulatory burden for capital market participants and harmonizing securities regulations across jurisdictions a study commissioned by the csa in 2001 estimated the total economic benefits of nrd to the canadian financial services industry would be 85 million over a five year period expected benefits of the nrdthe study also found that most of the gains would be realized as a result of efficiency gains for example the registration process would provide cash benefits to firms lower labor costs and save time large firms hoped to gain over 50 of the 85 million projected benefits and small firms hoped to benefit on a per registrant basis to a greater extent than large firms small firms expected benefits equal to 2 200 per registrant compared to 264 for each large firm registrant registering with the nrdto register with the nrd firms must pay a fee when they initially register firms and individuals must also pay a fee if they register in an additional jurisdiction or want to reactivate registration the fee is 75 for each form 33 109f4 which must be submitted for each individual or firm applying for registration and 20 50 for each form 33 109f4 which must be submitted for each individual applying for registration in each additional jurisdiction 