Mountain Range in British Columbia`

The British Columbia Securities Commission (BCSC) is seeking comment on proposed fee changes, the regulator announced Tuesday. The BCSC last increased its fees in 1994.

Overall, the proposed fee changes will be used to fund increased enforcement capacity, the regulator says in a news release

In addition, the changes will allow the regulator to address emerging regulatory issues such as rapid fintech innovation, rising cyber risk, the growth of the exempt market over-the-counter derivatives regulation.

The proposed increases would see the fee for registering dealer and advisor individuals rise from $250 to $350; the cost of filing exempt distribution reports would go from $100 to $200; and, the fee for filing take-over bid circulars and applying for exemptions would jump from $750 to $4,500.

Additionally, the regulator proposes new annual fees for international dealer advisors, and for certain other regulated entities such as exchanges, clearing agencies and trade repositories.

“Over the last 20 years, B.C. capital markets have become significantly more complex and the scope of the BCSC’s regulatory responsibilities has grown. This proposal will allow the BCSC to continue to deliver effective regulatory oversight and protect investors,” says Peter Brady, executive director of the BCSC, in a statement.

“People need to have confidence that securities markets are being regulated appropriately. With increased funding, the BCSC can expand its work on critical regulatory priorities, including hiring significantly more criminal investigators,” he adds.

The proposal is out for comment until May 31.

Subject to government approval, the proposed new fees would come into force later this year.