As we have previously discussed, registered firms have ongoing obligations under securities legislation to inform the OSC of the following changes to a firm or a registered individual’s information. Failure to notify the OSC within 10 calendar days of most of these changes may lead to a $100 late fee per day, up-to a maximum of $5,000 per year (and in some instances $10,000 per year – see Participation Fees above):

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An ounce of prevention is worth a pound of cure.