OSC to ease firms’ fee payment process

A broader crop of senior officers will be allowed to certify and submit firms’ annual participation fee forms

As part of its ongoing effort to eliminate needless regulatory costs, the Ontario Securities Commission (OSC) is making it easier for industry firms to handle their regulatory fees.

The OSC announced Thursday that it has revised its fee rule to allow a broader crop of senior officers to certify and submit firms’ annual participation fee forms.

Currently, this process has to be handled by firms’ chief compliance officers (CCOs). Now, other senior officers, such as chief financial officers (CFOs), will be able to certify and the submit the forms.

“Firms have told us that our current process means senior officers must spend time and effort reviewing the same information. To alleviate this burden, we are introducing more flexibility on who can sign off on fee forms,” said Debra Foubert, director, compliance and registrant regulation at the OSC.

Assuming that the change receives approval from the Minister of Finance, the new procedure will be in effect Dec. 1.

Recent Posts

See All

MFDA begins sketching map to new SRO

The MFDA is working on an “implementation roadmap” for its vision for the future of self-regulation The ongoing battle over the future of self-regulation escalated on Tuesday when the Mutual Fund Deal

Task force recommends sweeping changes to OSC

The proposals would radically alter securities regulation in Ontario A government-appointed task force is recommending sweeping changes to the framework and content of securities regulation in Ontario