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On April 30, 2026, the Ontario Securities Commission (OSC) published proposed amendments to its fee rules for public consultation. The amendments are designed to deliver fee relief to most market participants, encourage capital formation, enhance fee predictability, and recalibrate fees to support proportionality amongst market participants. Under the proposed changes, approximately 57 percent of small issuers and registrant firms regulated by the OSC would pay the lowest annual participation fee of $750 or less. The OSC proposes reducing the prospectus filing fee by approximately 21 percent to encourage capital formation and economic growth. The proposed amendments also address imbalances in the fee structure by introducing additional fee tiers to collect higher fees from market participants whose fees have not increased significantly despite evolving regulatory requirements. Crypto-asset trading platforms would see recalibrated fees to reflect the increased level and complexity of regulatory oversight required by the OSC. Additionally, the OSC proposes introducing an annual Consumer Price Index (CPI) based adjustment to participation fee rates for issuers and registrants, with tier thresholds also indexed to CPI to ensure fairness and maintain proportionality. The OSC has not comprehensively amended its fees in over a decade. The OSC charges two main types of fees: participation fees, which cover a broad range of services not practicably attributable to individual activities or entities; and activity fees, which relate to specific functions and actions such as filings and requests for service. Stakeholders are invited to provide written comments by July 29, 2026. The complete overview of the proposed changes is available on the OSC website.

On April 30, 2026, the Ontario Securities Commission (OSC) published for a 90‑day comment period proposed amendments to OSC Rule 13‑502 Fees and OSC Rule 13‑503 (Commodity Futures Act) Fees . According to the OSC's announcement , the proposals aim to address a funding gap caused by over a decade without a general fee increase, rising regulatory complexity and inflationary pressures. Small issuers and registrant firms would see fee reductions, while the largest market participants and crypto‑asset trading platforms (CTPs) would pay more. The OSC's key proposed amendments include: Issuer and registrant fee consolidation. Consolidates the bottom two participation fee tiers for issuers and registrant firms, which is estimated to result in 57 percent% of these market participants paying the lowest annual participation fee of CAD$750 or less. These amendments are estimated to lower annual fees by approximately CAD$200,000. Small registrant firm fee reductions. Reduces participation fee rates for smaller registrant firms whose Ontario-specified revenues are between CAD$500,000 and CAD$1m. These amendments are estimated to lower annual fees for those firms by CAD$300,000. New top‑tier fees for large participants. Introduces new tiers at the top level for issuers and registrant firms whose fees are disproportionately low in relation to the market growth experienced. These amendments are estimated to raise annual fees from the largest market participants by CAD$10m. Activity fee adjustments. Increases some existing activity and late fees, primarily to address inflationary pressures experienced since the OSC last updated rates. The OSC also proposes reducing certain capital raising filing fee rates by approximately 21 percent. These amendments are estimated to raise annual fees by CAD$2.4m, net of the proposed reductions. New crypto‑asset trading platform (CTP) fees. Introduces a new tier‑based participation fee model and activity fees for CTPs, adding an estimated CAD$1.2m in annual revenues. These new fees reflect the growing level of oversight in this expanding area to enhance investor protection and to support innovation. Other specified regulated entity fee increases. Increases participation fee rates and introduce new activity fees for other specified regulated entities, totalling CAD$1.1m. Annual CPI indexation. Introduces an annual Consumer Price Index (CPI) adjustment to issuer and registrant firm participation fee tier thresholds and fee rates. This amendment is expected to result in an average annual revenue increase of CAD$1.8m, beginning approximately one year after the effective date of the fee amendments (starting in April 2028). The OSC estimates the package would increase average annual revenues by about CAD$16m between April 2027 and March 2030. If finalised, the amendments are scheduled to take effect on April 5, 2027, and the 90‑day comment period closes on July 29, 2026 .

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Ontario Securities Commission Proposes Amendments to Fee Rules

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Ontario Securities Commission Proposes Fee Increases for Large Market Participants and New Crypto Platform Fees