Activity fees

Activity fees are generally charged where a document of a designated class is filed and are designed to cover the average costs the OSC incurs in reviewing documents, such as reviewing prospectuses, registration applications and applications for discretionary relief. Generally, the activity fees are based on an estimate of the average cost of OSC staff resources generally used in performing the activity.

Activity Fees under Ontario’s Securities Act

Row Document or Activity (Column A) Fee (Column B)
  A. Prospectus Filings  
A1 Preliminary or Pro Forma Prospectus in Form 41- 101F1 Information Required in a Prospectus (including if PREP procedures are used) $3,800
A2 Additional fee for each technical report that supports scientific and technical information relating to a mineral project that is included in a Preliminary or Pro Forma Prospectus. $2,500 for each technical report for which a fee under this Appendix has not previously been paid
A3 Preliminary Short Form Prospectus in Form 44-101F1 Short Form Prospectus (including if shelf or PREP procedures are used) or a Registration Statement on Form F-9 or F-10 filed by an issuer that is incorporated or that is organized under the laws of Canada or a jurisdiction in Canada province or territory in connection with a distribution solely in the United States under MJDS as described in the companion policy to National Instrument 71-101 The Multijurisdictional Disclosure System. $3,800
A4 Prospectus Filing by or on behalf of certain investment Funds

(a) Preliminary or Pro Forma Simplified Prospectus and Annual Information Form in Form 81-101F1 Contents of Simplified Prospectus and Form 81-101F2 Contents of Annual Information Form

(b) Preliminary or Pro Forma Prospectus in Form 41-101F2 Information Required in an Investment Fund Prospectus or Scholarship Plan Prospectus in Form 41-101F3 Information Required in a Scholarship Plan Prospectus		 The greater of

(i) $3,800 for a prospectus,
and
(ii) $400 for each mutual
fund in a prospectus.

The greater of

(i) $3,800 for a
prospectus, and
(ii) $650 for each
investment fund in a
prospectus.
 
A5 Review of prospectus supplement in relation to a specified derivative (as defined in National Instrument 44-102 Shelf Distributions). $3,800
A6 Filing of prospectus supplement in relation to a specified derivative (as defined in National Instrument 44-102 Shelf Distributions) for which the amount payable is determined with reference to the price, value or level of an underlying interest that is unrelated to the operations or securities of the issuer. $500
  B. Fees relating to exempt distributions under OSC Rule 45-¬501 Ontario Prospectus and Registration Exemptions and NI 45-106  
B1 Application for recognition, or renewal of recognition, as an accredited investor $350
B2 Filing of a Form 45-106F1 for a distribution of securities of an issuer under an exemption from the prospectus requirement $350
  C. Applications for specifically enumerated relief, approval, recognition, designation, etc.  
C1 An application for relief from this rule $1,800
C2 An application for relief from any of the following:

(a) National Instrument 31-102 National Registration Database;

(b) NI 33-109;

(c) section 3.11 [Portfolio manager – advising representative] of NI 31-103;

(d) section 3.12 [Portfolio manager – associate advising representative] of NI 31-103;

(e) section 3.13 [Portfolio manager – chief compliance

officer] of NI 31-103;

(f) section 3.14 [Investment fund manager – chief compliance officer] of NI 31-103;

(g) section 9.1 [IIROC membership for investment dealers] of NI 31-103;

(h) section 9.2 [MFDA membership for mutual fund dealers] of NI 31-103.		 $1,800
C3 An application for relief from any of the following:

(a) section 3.3 [Time limits on examination requirements] of NI 31-103;

(b) section 3.5 [Mutual fund dealer – dealing representative] of NI 31-103;

(c) section 3.6 [Mutual fund dealer – chief compliance officer] of NI 31-103;

(d) section 3.7 [Scholarship plan dealer – dealing representative] of NI 31-103;

(e) section 3.8 [Scholarship plan dealer – chief compliance officer] of NI 31-103;

(f) section 3.9 [Exempt market dealer – dealing representative] of NI 31-103,

(g) section 3.10 [Exempt market dealer – chief compliance officer] of NI 31-103.  		 $500
C4 An application under subparagraph 1(10)(a)(ii) of the Act $1,000
C5 An application

(a) under section 30 or subsection 38(3) of the Act or subsection 1(6) of the Business Corporations Act,

(b) under subsection 144(1) of the Act for an order to partially revoke a cease-trade order to permit trades solely for the purpose of establishing a tax loss, as contemplated under Division 2 of National Policy 12-202 Revocation of

(c) under subsections 144(1) and 127(4.3) of the Act to revoke a cease trade order made under subsection 127(4.1) of the Act that has been in effect for 90 days or less.		 Nil

C6

 An application other than a pre-filing, where the discretionary relief or regulatory approval is evidenced by the issuance of a receipt for the applicants’ final prospectus (such as certain applications under National Instrument 41-101 General Prospectus Requirements or National Instrument 81-101 Mutual Fund Prospectus Disclosure).

(a) $4,800 for an application for relief, or approval under, one section of the Act, a regulation or a rule

(b) $7,000 for an application for relief from, or approval under, two or more sections of the Act,  regulation or a rule
C7 An application

(a) made under subsection 46(4) of the Business Corporations Act for relief from the requirements under Part V of that Act

(b) for consent to continue in another jurisdiction under paragraph 21(b) of Ont. Reg. 389/21 made under the Business Corporations Act

Note: These fees are in addition to the fee payable to the Minister of Finance as set out in the Schedule attached to the Minister's Fee Orders relating to applications for exemption orders made under the Business Corporations Act to the Commission.		 $400
  D. Recognitions and Exemptions for Specified Regulated Entities  

D1

An application for recognition of an exchange under section 21 of the Act

$110,000

D2

An application for exemption from the requirement to be recognized as an exchange under section 21 of the Act

$83,000

D3

An application by a marketplace that trades OTC derivatives, including swap execution facilities, for exemption from the requirement to be recognized under section 21 of the Act

$20,000

D4

An application by clearing agencies for recognition under section 21.2 of the Act

$110,000

D5

An application for exemption from the requirement to be recognized as a clearing agency under section 21.2 of the Act by a clearing agency not planning to have any clearing member resident in Ontario, if the clearing agency has at least one customer, as defined in National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions, resident in Ontario.

$15,000

D6

 An application for exemption from the requirement to be recognized as a clearing agency under section 21.2 of the Act by a clearing agency planning to have at least one clearing member resident in Ontario.

$83,000

(plus an additional fee of $100,000 in connection with an application described in any of Rows D1 to D5 that

(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency, or
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or reflects a major reorganization or restructuring of an exchange or clearing agency).
  E. Initial Filing for ATS  
E1 Review of the initial Form 21-101F2 Information Statement Alternative Trading System of a new alternative trading system $55,000
  F. Trade Repository  
F1 Application for designation as a trade repository under section 21.2.2 of the Act $83,000
  G. Pre-Filings  
G1 Each pre-filing relating to the items described in Rows D1 to D5, E1 and F1 One-half of the otherwise applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the pre-filing.
G2 Any other pre-filing

Note: The fee for a pre-filing under this section will be credited against the applicable fee payable if and when the corresponding formal filing (e.g., an application or a preliminary prospectus) is actually proceeded with; otherwise, the fee is non-refundable. 		The applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the pre-filing.
  H. Take-Over Bid and Issuer Bid Documents  
H1 Filing of a take-over bid or issuer bid circular under subsection 2.10(2),(3) or (4) of NI 62-104 or the filing of an information circular in connection with a special meeting to be held to consider the approval of a going private transaction, reorganization, amalgamation, merger, arrangement, consolidation or similar business combination (other than a second step business combination in compliance with MI 61-101). $4,500 (plus $2,000 if neither the offeror nor an issuer of which the offeror is a wholly-owned subsidiary is subject to, or reasonably expected to become subject to, a participation fee under this Rule)
H2 Filing of a notice of change or variation under section 2.13 of NI 62-104 Nil
  I. Registration-Related Activity  

I1

New registration of a firm in one or more categories of
registration

$1,300
I2

Addition of one or more categories of registration

$700
I3

Registration of a new representative as a dealer and/or adviser on behalf of a registrant firm

$200 per individual, unless the individual makes an application to register in the same category of registration within three months of terminating employment with a previous firm.
I4

Review of permitted individual

$100 per individual, unless the individual is already registered as a dealer and/or adviser on behalf of a registrant firm
I5

Change in status from not being a representative on
behalf of a registrant firm to being a representative on behalf of the registrant firm

$200 per individual
I6

Registration as a chief compliance officer or ultimate designated person of a registrant firm, if the individual is not registered as a representative on behalf of the registrant firm

$200 per individual
I7

Registration of a new registrant firm, or the continuation of registration of an existing registrant firm, resulting from or following an amalgamation of one or more registrant firms

$1,000
I8

Application for amending terms and conditions of registration

$800
  J. Registrant Acquisitions  
J1 Notice given under section 11.9 [Registrant acquiring a registered firm’s securities or assets] or 11.10 [Registered firm whose securities are acquired] of NI 31-103 $3,600
  K. Designated Rating Organizations  
K1 An application for designation of a credit rating organization under section 22 of the Act $15,000
K2 An application for a variation of a designation of a credit rating organization under subsection 144(1) of the Act if the application

(a) reflects a merger of a credit rating organization,
(b) reflects an acquisition of a major part of the assets of a credit rating organization,
(c) involves the introduction of a new business that would significantly change the risk profile of a credit rating organization, or
(d) reflects a major reorganization or restructuring of a Any other application for a variation of a designation of a credit rating organization		 $15,000
K3 Any other application for a variation of a designation of a credit rating organization under subsection 144(1) of the Act $4,800
  L. Registrant Acquisitions  
L1 An application, other than one described in Rows A1 to K3, for
(a) relief from one section of the Act, a regulation or a rule, or
(b) recognition or designation under one section of the Act, a regulation or a rule.		 $4,800
L2 An application, other than one described in Rows A1 to K3, for
(a) relief from two or more sections of the Act, a regulation or a rule made at the same time, or
(b) recognition or designation under two or more sections of the Act, a regulation or a rule made at the same time.		 $7,000
L3 An application referred to in Row L1 or L2 if none of the following is subject to, or is reasonably expected to become subject to, a participation fee under this Rule or OSC Rule 13-503 (Commodity Futures Act) Fees:

(i) the applicant;
(ii) an issuer of which the applicant is a wholly owned subsidiary;
(iii) the investment fund manager of the applicant.		 The amount in Row L1 or L2 is increased by $2,000
L4 An application under subsection 144(1) of the Act if the application

(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency,
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or
(d) reflects a major reorganization or restructuring of an exchange or clearing agency.		 The amount in Row L1 or L2 is increased by $100,000
  M. Requests to the Commission  
M1 Request for a search of Commission public records $10 initial search fee, plus $7.50 per person searching for each 15 minutes spent by the person searching or preparing records for disclosure to the extent consistent with the request.
M2 Request for copies of Commission public records Applicable search fees under Row M1. Additional charge of $0.25 per page for photocopied or printed records. No additional charge for digital copies, where available.

Activity Fees under Ontario’s Commodity Futures Act

Row Document or Activity (Column A) Fee (Column B)
  A. Application for specifically enumerated relief, approval and
recognition		  
A1 Application under:
a) Section 24 or 40 or subsection 36(1) or 46(6) of the CFA, and
b) Subsection 27(1) of the Regulation to the CFA.		 Nil
A2 An application for relief from this Rule. $1,800
A3 An application for relief from any of the following:

(a) OSC Rule 31-509 National Registration Database (Commodity Futures Act);
(b) OSC Rule 33-506;
(c) Subsection 37(7) of the Regulation to the CFA		 $1,800
  B. Recognitions and Exemptions for Specified Regulated Entities  
B1 An application for registration or recognition of an exchange under section 15 or 34 of the CFA if the application is not made in conjunction with the application for recognition of an exchange under the Securities Act; $110,000
B2 An application for registration or recognition of an exchange under section 15 or 34 of the CFA if the application is made in conjunction with the application for recognition of an exchange under the Securities Act; $22,000
B3 An application for exemption from registration of an exchange under section 80 of the CFA if the application is not made in conjunction with the application for exemption from the recognition of an exchange under the Securities Act; $83,000
B4 An application for exemption from registration of an exchange under section 80 of the CFA if the application is made in conjunction with the application for exemption from the recognition of an exchange under the Securities Act; $22,000
B5 An application for recognition of a clearing house under section 17 of the CFA if the application is not made in conjunction with the application for recognition of a clearing agency under the Securities Act; $110,000
B6 An application for recognition of a clearing house under section 17 of the CFA if the application is made in conjunction with the application for recognition of a clearing agency under the Securities Act. $22,000
(plus an additional fee of $100,000 in connection with an application described in any of Rows B1 to B6 that
(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency, or
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or reflects a major reorganization or restructuring of an exchange or clearing agency).
 
  C. Registration-Related Activity  
C1 New registration of a firm in one or more categories of registration $1,300
C2 Addition of one or more categories of registration $700
C3

Registration of a new individual to trade or advise on behalf of the registrant firm

Notes: (i) If an individual is registering as both a dealer and an adviser,
the individual is required to pay only one activity fee.

 $200 per individual, unless the individual makes an application to register in the same category of registration within three months of terminating employment with a previous firm.
 
C4 Review of permitted individual $100, unless the individual is already registered to trade or advise on behalf of the registrant firm
C5 Change in status from a non-trading or non-advising capacity to a trading or advising capacity $200 per individual
C6 Registration of a new registrant firm, or the continuation of registration of an existing registrant firm, resulting from or following an amalgamation of one or more registrant firms $1,000
C7 Application for amending terms and conditions of registration $800
  D. Director Approval  
D1 An application for approval of the Director under Section 9 of the Regulation to the CFA 

Note: No fee for an approval under subsection 9(3) of the Regulation to the CFA is payable if a notice covering the same circumstances is required under sections 11.9 or 11.10 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.		 $3,500
  E. Pre Filings  
E1 Each pre-filing relating to the items described in Rows B1 to B6 of Appendix B One-half of the otherwise applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the prefiling.
E2 Any other pre-filing of an application 

Note: The fee for a pre-filing of an application will be credited against the applicable fee payable if and when the corresponding formal filing is actually proceeded with; otherwise, the fee is nonrefundable.		 The applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the pre-filing.
  F. Any Application not otherwise listed in this Rule  
F1 An application, other than one described in Rows A1 to D1 for
(a) relief from one section of the CFA, a regulation or a rule, or
(b) recognition or designation under one section of the CFA, a regulation or a rule,		 $4,800
F2 An application, other than one described in Rows A1 to D1 for
(a) relief from two or more sections of the CFA, a regulation or a rule made at the same time, or
(b) recognition or designation under two or more sections of the CFA, a regulation or a rule made at the same time.		 $7,000
F3 An application referred to in F1 or F2 if none of the following is subject to, or is reasonably expected to become subject to, a participation fee under this Rule or OSC Rule 13-502 Fees:
(i) the applicant;
(ii) an issuer of which the applicant is a wholly owned subsidiary;		 The amount in F1 or F2 is increased by $2,000
F4 An application under subsection 78(1) of the CFA, other than an application that was made under that subsection and subsection 144(1) of the Securities Act, if the application

(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency,
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or
(d) reflects a major reorganization or restructuring of an exchange or clearing agency.		 The amount in F1 or F2 is increased by $100,000
  G. Requests to the Commission  
G1 Request for a search of Commission public records $10 initial search fee, plus $7.50 per person for each 15 minutes time spent by the person searching or preparing records for disclosure to the extent consistent with the request.
G2 Request for copies of Commission public records Applicable search fees under Row G1. Additional charge of $0.25 per page for photocopied or printed records. No additional charge for digital copies, where available.