A friendly reminder that registered firms in Ontario and foreign firms that rely on certain exemptions from the registration requirements are required to pay annual capital markets fees in Ontario for 2022. The fee forms used to calculate these capital market participation fees, Form 13-502F4 Capital Markets Participation Fee Calculation under OSC Rule 13-502 Fees and Form 13-503F1 (Commodity Futures Act) Participation Fee Calculation under OSC Rule 13-503 (Commodity Futures Act) Fees are found on the OSC’s website here and are due by December 1, 2022. The form must be certified by specified individuals. Chief Compliance Officers likely have already received a notice from the OSC with respect to the completion of these forms and payment of fees.
The deadline to pay the applicable annual participation fees is January 3, 2023. For firms with a bank account recorded on NRD, fees will be automatically withdrawn from the firm’s bank account. Other firms will need to provide sufficient time in advance of the deadline to send funds via wire. In addition to late filing fees for firms that do not meet the applicable deadlines, under the Securities Act (Ontario), the registration of a firm is automatically suspended if the capital markets participation fee remains unpaid for more than 30 days after its due date.
Please contact us if you require any assistance to complete these forms as soon as possible.
October 31, 2022