The OSC is publishing for a 90-day comment period (ending January 3, 2009) OSC Rule 13-502 Fees and the corresponding Companion Policy. The Rule and Companion Policy are intended to replace, and are consistent with, the current rule and policy. The proposed changes include the following:
- relying on historical data, as opposed to forecasted data, in determining the size of market participants for the purpose of calculating participation;
- eliminating special participation fees for those becoming or ceasing to be reporting issuers;
- making changes governing the calculation of late fees;
- changing and clarifying timing references;
- expanding the exemption from participation fees for reporting issuers that are subsidiaries;
- eliminating rule allowing certain reporting issuers to pay provisional participation fees;
- clarifying the calculation of a market participant's Ontario percentage;
- making adjustments to participation fees;
- making adjustments to late fees associated with the late filing of documents; and
- making adjustments to activity fees.
OSC Rule 13-502 does not include proposed fee changes reflected in proposed National Instrument 31-103 Registration Requirements. If the reform of the registration requirements is implemented in Ontario, further fee changes will need to be made.