CIRO's Proposed Integrated Fee Model

Click the link to access a PDF of the article >> AUM Law | CIRO's Proposed Integrated Fee Model | May 2024

On April 25, 2024, the Canadian Investment Regulatory Organization (CIRO) proposed a new integrated fee model for investment dealers and mutual fund dealers, to be effective April 1, 2025. The model is comprised of three components: the Annual Dealer Member Fee, Fees for Membership Applications and Dealer Member Business Changes, and the Qualified Market Maker Discount.

Significant proposed changes are as follows:

• Mutual fund dealer fees will be based on dealer revenue instead of assets under administration;
• The minimum fee will increase significantly (+56% for investment dealers);