Late fees
A late fee applies if the firm does not pay its other fees to the OSC on time or does not submit documents on time.
For example, we may charge a late fee if a firm submits a notice of change to registration information after the timeline listed in Appendix A Summary of Notice Requirements in National Instrument 33-109 Registration Information to Companion Policy 33-109CP Registration Information. The fee is $100 for each business day the notice is late, up to $5,000 for all late notices in a financial year.
If a firm has not submitted documents on time, the late fee must be paid at the same time the late documents are submitted to the OSC.
Additional Fees for late document filings under Ontario’s Securities Act
| Row | Document (Column A) | Late Fee (Column B) |
|---|---|---|
| A. | Fee for late filing or delivery of any of the following forms or documents: (a) Annual financial statements and interim financial information; (b) Annual information form filed under NI 51-102 or National Instrument 81-106 Investment Fund Continuous Disclosure; (c) Form 33-109F1 Notice of Termination of Registered Individuals and Permitted Individuals (section 4.2). (d) Any form or document required to be filed or delivered by a registrant firm or individual in connection with the registration of the registrant firm or individual under the Act with respect to (i) terms and conditions imposed on the registrant firm or individual, or (ii) an order of the Commission; (e) Form 13-502F4. |
Late fee amount to be calculated in accordance with Part 9 of the Rule. |
| B. | Fee for late filing a Form 45-106F1 | For each year, $100 for every day in the year following the date the form was required to be filed by a person or company until the date the form is filed, to a maximum of $5,000 for the year for all Form 45-106F1s required to be filed by the person or company in the year. |
| C. | Fee for late filing of Form 13-502F9 | For each year, $100 for every day in the year following the date the form was required to be filed by a person or company until the date the form is filed, to a maximum of $5,000 for the year for the Form 13-509F9 that is required to be filed by the person or company |
| D. | Fee for late filing of Form 55-102F2 Insider Report |
Subject to section 42 of the Rule, $50 per day per insider per issuer (subject to a maximum of $1,000 per issuer within any one year beginning on April 1st and ending on March 31st.). |
Additional Fees for late document filings under Ontario’s Commodity Futures Act
DOCUMENTS TO WHICH FEES FOR LATE FILING OR DELIVERY APPLY (Part 4)
(a) Annual financial statements and interim financial information;
(b) Report under section 15 of the Regulation to the CFA;
(c) Report under section 17 of the Regulation to the CFA;
(d) Form 33-506F1 Notice of Termination of Registered Individuals and Permitted Individuals;
(e) Form 13-503F1; and
(f) Any form or document required to be filed or delivered by a registrant firm or individual in connection with the registration of the registrant firm or individual under the CFA with respect to
(i) terms and conditions imposed on the registrant firm or individual, or
(ii) an order of the Commission.