Securities Law & Instruments

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May 29, 2020

Notice of General Order
Ontario Instrument 13-507
Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees, No. 2

As a result of the Coronavirus pandemic (“COVID-19”), the Ontario Securities Commission (the “Commission”) is providing market participants with temporary relief from the accrual of late fees charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees (“OSC Rule 13-503”).

Description of Order

The order provides that all late fees under OSC Rule 13-503 cease to accrue in the period beginning on June 2, 2020, and ending September 30, 2020.

Reasons for the Order

As a result of the outbreak of COVID-19 certain market participants may experience difficulties in making filings and payments required by OSC Rule 13-503. The Commission previously provided relief from the accrual of late fees charged under OSC Rule 13-503 between the period of April 17, 2020, to June 1, 2020, in the form of Ontario Instrument 13-505 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees. Under the circumstances, the Commission has determined that it would not be prejudicial to the public interest to make this order which grants continued temporary relief from the accrual of late fees until September 30, 2020.

Day on which the Order Ceases to Have Effect

The order comes into effect on June 2, 2020, and expires on September 30, 2020.