The Ontario Securities Commission (OSC) announced on May 29, 2020 that it will continue to temporarily waive late fees for market participants impacted by the COVID-19 pandemic. The extensions build on the temporary relief the on April 17, 2020. Late fees will be waived for investment funds, registrants, and firms that rely on certain registration exemptions in Ontario, that accumulate between June 2, 2020 and September 30, 2020. For issuers and regulated entities, including marketplaces, clearing agencies and trade repositories, late fees that accumulate between June 2, 2020 and August 31, 2020 will be waived.
Market participants must pay fees in accordance with OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees. This additional temporary relief will prevent the accumulation of certain late fees charged under these OSC rules.
The OSC blanket order will come into effect on orders can be found on the OSC website: https://www.osc.gov.on.ca/en/SecuritiesLaw_rule_20200529_13-506_general-order-accrual-of-late-fees.htm
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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