The Alberta Securities Commission (ASC) has proposed significant amendments to its fee model. One of the most notable changes resulting from the proposed amendments is a change from a fixed fee to a participation fee model, similar to the current arrangement in Ontario, for reporting issuers that is based on market capitalization. However, investment funds that are subject to National Instrument 81-106 Investment Fund Continuous Disclosure will continue to pay a fixed fee. Another notable proposed amendment is that fees based on proceeds will be eliminated for a distribution of securities or exempt distribution for reporting issuers (other than investment funds).
Registrants can also expect changes. Fees for international dealers and international advisers will be introduced and there will be an increase in fees for initial registration and annual registration for registered firms and individuals.
According to the ASC, the proposed amendments to the fee model are expected to come into force on December 1, 2016. Comments on the proposed amendments are due by January 18, 2016. For further information, please consult the ASC Notice and Request for Comment regarding proposed amendments to ASC Rule 13-501 Fees.