Ontario’s finance minister has approved the latest amendments to the Ontario Securities Commission’s fee model. The latest version was approved by the minister on May 7, the OSC said Friday.

The rules, which were approved by the commission on March 10, will come into force in Ontario on June 1.

Last October the commission proposed an overhaul of its fee model. However, in March, it backed off from that plan in light of the financial crisis, and decided to freeze its fees until March 31, 2010.

At that time, OSC chair, David Wilson, said, “We understand the challenges faced by market participants in Ontario and recognize that now is not the time for a fee increase. Maintaining the current fee levels for the next year will not impact our ability to provide protection to investors from unfair, improper or fraudulent practices and foster fair and efficient capital markets. We have refocused our resources in order to meet changing market conditions.”

IE