The Ontario Securities Commission has finally published a proposed rule that would see it reform its fee structure.

On March 30, 2001, the OSC published for comment a concept proposal to overhaul regulatory fees for market players. The comment period ended on May 31, 2001, and Rule 13-502 — Fees follows the proposed model.

The proposed rule would reduce the overall fees charged to market players and simplify, clarify and streamline the current fee schedule. It would also ensure that the fees more accurately reflect the OSC’s cost of providing services to market players.

The rule also describes a proposed fee model that would require the payment of “participation fees” and “activity fees”.

In proposing the New Fee Model, the OSC sought input from market players from three different focus groups: reporting issuers; dealers (including the Investment Dealers Association); and advisorrs and mutual fund managers (including The Investment Funds Institute of Canada).

Comments on the new rule are due by September 27.