The update concerns amendments to system fees and regulatory references for take-over bids, issuer bids, and early warning disclosures in public company shareholdings, which relates to equity market infrastructure and disclosure.
Mandatory inheritance: Equities as primary triggers Investment Services as the mandatory secondary tag, reflecting the asset-management and market infrastructure dimension of equity issuance and trading oversight.
Specialism
The update concerns administrative amendments to fee-related regulatory references within a multilateral instrument governing take-over bids and early warning disclosure, which relates to market conduct and disclosure obligations.
The amendments update system fee provisions and disclosure references that support regulatory reporting obligations for market participants regarding significant shareholdings and take-over activity.
2026-05-15 16:11:47·ataylor@vixio.com
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TITLE: British Columbia Securities Commission Proposes Amendments to Multilateral Instrument 13-102 System Fees
BODY:
The British Columbia Securities Commission (BCSC) has proposed amendments to Multilateral Instrument 13-102 System Fees. The amendments update references within the instrument to align with changes to National Instrument 62-104 Take-Over Bids and Issuer Bids.
Specifically, the proposed amendments modify Appendix A, Column B of Item 10 by replacing the existing reference to "National Instrument 62-104 Take-Over Bids and Issuer Bids" with "National Instrument 62-104 Take-Over Bids, Issuer Bids and the Early Warning System" throughout the instrument. This change reflects the expansion of National Instrument 62-104 to include provisions governing the early warning system, which requires market participants to disclose significant shareholdings in public companies.
The amendments apply across Canadian securities regulatory jurisdictions where Multilateral Instrument 13-102 operates. The changes are administrative in nature and ensure that system fee provisions accurately reference the current scope and title of the applicable national instrument governing take-over bids, issuer bids, and early warning disclosure requirements.
The effective date for these amendments has not yet been specified in the proposal. In Saskatchewan, if the regulations are filed with the Registrar of Regulations after the initial effective date, they will come into force on the date of filing. Market participants and securities service providers should monitor for confirmation of the implementation date and ensure compliance with the updated references upon the amendments coming into force.
ANNEX F Proposed Amendments to Multilateral Instrument 13-102 System Fees 1. Multilateral Instrument 13-102 System Fees is amended by this Instrument. 2. Appendix A is amended in Column B of Item 10 by replacing “National Instrument 62-104 Take-Over Bids and Issuer Bids” with “National Instrument 62-104 Take-Over Bids, Issuer Bids and the Early Warning System” wherever the expression appears. 3. (1) This Instrument comes into force on [x]. (2) In Saskatchewan, despite subsection (1), if these regulations are filed with the Registrar of Regulations after [x], these regulations come into force on the day on which they are filed with the Registrar of Regulations.