The Ontario Securities Commission has announced that it is adopting changes to its rules setting out the fees to be paid by market participants.
Notably, the amendments to current rules will remove the use of a reference fiscal year in the calculation of participation fees and require that market participants calculate their participation fee payable using information from their most recent financial year. According to the OSC, this change will "more closely track current market conditions" to the benefit of participants. Changes to activity fees are also intended to improve fairness and compliance or reduce regulatory burdens.
As we discussed last year, the OSC first published proposed rules for comment in September and the final versions of the rules take into account comments made by stakeholders. Assuming Ministerial approval, the changes come into force on April 6, 2015.