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.
