Canadian securities regulators provide update on the consideration of trading fee rebate pilot study

Toronto – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 23-322 Trading Fee Rebate Pilot Study. The notice sets out the CSA’s next steps regarding the consideration of a pilot study that would examine the impacts of reducing marketplace trading fee rebate payments.

With the United States Securities and Exchange Commission’s (SEC) recent announcement of a proposed pilot to study the impacts of transaction fees and rebates, the CSA is welcoming input or comments from stakeholders on the possibility of a similar study in Canada.

The notice provides background on factors that have led to the CSA’s consideration of a test study, and the CSA will consider coordination with any SEC study, where appropriate.

Any Canadian proposal to introduce a pilot study will be published in a separate notice with request for comment.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.