maxctrl parsing trouble

I am trying to use maxctrl to create a regex filter. The replacement string needs to have an equal sign however it doesn't appear that it's being escaped properly by maxctrl.

maxctrl create filter dmsfix regexfilter match=autocommit.0 replace=autocommit=1 user=dms log_file=/tmp/regexfilter.log

Not a key-value parameter: replace=autocommit=1