TORONTO – The Ontario Securities Commission is cutting fees for some small firms in a move to help those dealing with what it called “challenging conditions.”
The provincial regulator says the average market participant that meets the criteria will save between $235 and $17,275 for registered firms and between $160 and $13,150 for reporting issuers, with most at the lower end of the bands.
“We are confident that this targeted relief is appropriate and responsive to the difficulties faced by some of our stakeholders, but will still allow us to carry out our important regulatory work,” said Maureen Jensen, the OSC’s executive director and chief administrative officer.
The provincial regulator said the cuts will reduce revenue and affect its ability to reach cost recovery by the end of its 2016 fiscal year.
Eligible firms and issuers must apply for the relief by March 31.