It is that time of the year again for Ontario-registered firms, unregistered exempt international dealer/adviser firms, and unregistered investment fund managers to file their annual participation fee calculations.
The filing of participation fees must be accomplished by December 1. The participation 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.
OSC noted that participation fees are set out in OSC Rule 13-502 Fees under the Securities Act (Ontario) and OSC Rule 13-503 Fees under the Commodity Futures Act (Ontario).
Here’s what you need to know:
Firms must complete and file Form 13-502F4 Capital Markets Participation Fee Calculation (Form 13-502F4) or Form 13-503F1 (Commodity Futures Act) Participation Fee Calculation (Form 13-503F1), as appropriate, by December 1. These forms determine and notify the OSC of participation fees payable.
Check out these links:
For Registrant firms ad unregistered exempt international firms, check out these adjusted forms. According to OSC, firms who provided a Form 13-502F4 or Form 13-503F1 based on estimated revenues must complete these forms electronically within 90 days of their fiscal year end only if their participation fee payable has changed.
- Adjusted Form 13-502F4: Online Form
- Adjusted Form 13-502F4: PDF
- Adjusted Form 13-503F1: Online Form
- Adjusted Form 13-503F1: PDF
Firms which are unable to pay will be subject to automatic suspension. Meanwhile, late fees will also apply for forms and participation fees submitted after the due dates.