Types of Fees
All registered firms, unregistered investment fund managers and international dealers and international advisers are required to pay an annual participation fee. This fee is designed to cover the OSC’s costs of providing services that are not easily attributable to specific firms. The fee is based on a measure of the firm’s size, which is used to approximate its proportionate participation in the Ontario capital markets.
NRD user fee
Firms are required to pay an NRD user fee for each active individual on NRD on December 31 of each year. The fees are deducted from the firm’s NRD bank account on the first business day after December 31 each year.
The total fee payable by the firm is calculated based on the number of jurisdictions an individual is applying for registration in. For a detailed breakdown of the fee structure, please refer to the section on NRD Submission Fees on the NRD Information website: http://nrd-info.ca/fees/fees_index.jsp?lang=en
If an individual’s registration with a firm has been terminated, the firm can avoid being charged user fees for that individual by submitting an Annual Fee Exclusion/Reversal through NRD. It must do this by December 31 of the year the individual’s registration was terminated.
Firms must also submit a notice of termination or surrender of registration for these individuals by January 8 of the year following the termination or surrender.
Activity fees are charged at flat rates and are designed to cover the average direct costs the OSC incurs in reviewing documents, such as registration applications and applications for discretionary relief. Activity fees are based on an estimate of the direct cost of OSC staff resources generally used in performing the activity.
A late fee applies if the firm does not pay its other fees on time or does not submit documents on time.
For example, we may charge a late fee if a firm submits a notice of change to registration information after the timeline listed in Appendix A Summary of Notice Requirements in National Instrument 33-109 to Companion Policy 33-109CP Registration Information. The fee is $100 for each business day the notice is late, up to $5,000 for all late notices in a financial year.
If a firm has not submitted documents on time, the late fee must be paid when the late documents are submitted.
For more information: