FSRA’s proposed Fee Rule open for 2nd consultation

FSRA is carrying out further consultation on its proposed Assessments and Fee Rule (Fee Rule), specifically relating to fees for the New Self Regulatory Organization (SRO). 

FSRA is proposing an amendment to the Fee Rule that, if approved, would reduce New SRO’s fees, recognizing that the Ontario Securities Commission (OSC) already provides oversight of its activities. 

FSRA, the OSC, and New SRO are working together to ensure that New SRO’s participation as a credentialing body under the title protection framework would not result in regulatory duplication.

Consultation on the proposed amendment is now open and will close on June 2, 2023. A final proposed Fee Rule will be submitted to the Minister of Finance for approval following the review of the consultation feedback. 

During the first consultation, FSRA received over 20 stakeholder submissions and comments. Overall, Stakeholder feedback strongly supports the implementation of an updated fee structure, and therefore, there are no other substantial changes to the Fee Rule.

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FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. 

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