The Ontario Securities Commission (OSC) has issued two temporary exemptions from late fees that would otherwise be levied in connection with reporting certain registration information, for filings made between February 13, 2023, and before April 3, 2023. The pithy orders are located on the OSC’s website and are entitled Ontario Instrument 13-510 Temporary Exemption from the Late Fee under Subsection 6.4(1) of Ontario Securities Commission Rule 13-502 Fees for the Late Filing of a Form 33-109F5 to Amend Item 10 of Form 33-109F4, which includes Disclosure Requirements in respect of Certain Outside Activities and Ontario Instrument 13-511 Temporary Exemption from the Late Fee under Section 3.3 of Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees for the Late Filing of a Form 33-506F5 to Amend Item 10 of Form 33-506F4, which includes Disclosure Requirements in respect of Certain Outside Activities.
The orders under the Securities Act (Ontario) and the Commodity Futures Act (Ontario) are consistent with previous late fee moratoriums and amendments to the fee rules that will come into force on April 3, 2023, which will permanently eliminate these specific late fees. Item 10 of Form 33-109F4 (and its equivalent under the Commodity Futures Act (Ontario)) requires disclosure of an individual’s activities within the registered firm as well as reportable outside activities.
February 28, 2023