On September 12, 2019, the Ontario Securities Commission (the OSC) issued a news release regarding certain amendments as to who can certify a registrant’s annual fee calculation form in Ontario (a Form 13-502F4), which also applies to foreign registrants relying on an international registration exemption in Ontario (each an unregistered registrant).
Whereas a Form 13-502F4 previously had to be certified and submitted to the OSC by the registrant’s or unregistered registrant’s Chief Compliance Officer (the CCO), pursuant to the proposed amendments, a Form 13-502F4 of a registrant or an unregistered registrant can now be certified by its CCO, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, or in the case of an unregistered registrant, an individual acting in a similar capacity to one of these positions, or a director of the registrant or unregistered registrant.
These proposed amendments are expected to be in force when registrants and unregistered registrants are required to file their Form 13-502F4s later this year.
Pursuant to Ontario’s securities laws, a registered firm and an unregistered firm are required to file a Form 13-502F4 with the OC by no later than December 1st of each year disclosing the revenues they earned in Ontario and the participation fee that is payable to the OSC by no later than December 31st of that year.
For further information regarding the above, please see the Notice of Amendments to OSC Rules 13-502 and 13-503, which reflects the changes that have been made.