Gas Prices Are Not Alone – Regulatory Fee Increases

Several securities regulatory authorities have proposed, or are in the process of implementing, fee increases.

The Ontario Securities Commission (OSC) has proposed amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees which, if adopted, will become effective on April 5, 2027. The proposed increases are intended to address a funding gap needed for the OSC to fulfill its mandate, and the notice indicates that a combination of factors such as the evolution of products, market participants and technology require more comprehensive regulatory oversight. Many smaller market participants will benefit from the reduced participation fees, but the largest issuers and registrant firms (i.e. those with Ontario specified revenues greater than C$4 billion) will see an increase. As examples, the amendments will consolidate the bottom two participation fee tiers for registrant firms, resulting in the payment of the lowest annual participation fee of C$700, while