More Bang For Your Buck: OSC's Updated Fee Structure To Take Effect April 3, 2023

Spring is just around the corner and market participants are eagerly awaiting amendments to Ontario Securities Commission ("OSC") Rule 13-502 – Fees, OSC Rule 13-503 – (Commodity Futures Act) Fees and their related companion policies (the "Fee Amendments") to come into force on April 3, 2023. The Fee Amendments reflect changes resulting from the growth in Ontario's over-the-counter (OTC) derivatives market and further the OSC's regulatory burden reduction initiative with the goal of facilitating a fairer allocation of costs across market segments.

Key changes to come into effect as a result of the pending Fee Amendments include:

• the introduction of a new annual participation fee for specific entities engaged in the trading of OTC derivatives (primarily applicable to large financial institutions);