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:
Clic here to view table.
*The OSC has been imposing late filing fees for failure to disclose all outside activities of individuals (e.g., directors, officers, trustees, shareholders and other roles). If you are unsure what to disclose, please contact us for further analysis and potential filing.
An ounce of prevention is worth a pound of cure.