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ARTICLE · 17 NOVEMBER 2023

Please Pay The Ferryman: OSC Seeks To Levy Additional Fees On Registered And Unregistered Crypto Asset Trading Platforms (CTPs)

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Interested parties are being asked to provide their comments on the Fee Amendments to the OSC in writing by February 7, 2024.

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Michael Burns
Michael Burns
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Jennie Baek
Adam Chisholm
Adam Chisholm
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Matthew DeAmorim
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Sam Kelley
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The Ontario Securities Commission ("OSC") has published proposed amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees (collectively, the "Fee Amendments") for a 90-day comment period. Scheduled to come into force on July 2, 2024, the Fee Amendments will increase regulatory costs for firms that are registered, or required to register, as restricted dealers in Ontario. The proposed amendments are initially targeted at recovering costs associated with registration applications of crypto asset trading platforms ("CTPs") operating in the Ontario market. However, the Fee Amendments are intended to be sector neutral, and are intended to proactively permit the subsidization of regulatory costs associated with new and emerging sectors.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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