BCSC consulting on proposed fee changes

The British Columbia Securities Commission (BCSC) has published a request for comment seeking input on proposed fee changes. The commission last increased fees in 1994.

The BCSC funds its operations entirely from fees paid by market participants. The proposal includes increases to some of the commission’s existing fees and introduces new fees for certain entities such as exchanges, clearing agencies, trade repositories and foreign registrants.

“People need to have confidence that securities markets are being regulated appropriately,” says Peter Brady, executive director of the BCSC, in a release. “With increased funding, the BCSC can expand its work on critical regulatory priorities, including hiring significantly more criminal investigators.”

In addition to increased enforcement capacity, the fee changes will help address other regulatory challenges, including:

• the emergence of new marketplaces,
• rapid fintech innovation,
• increasing cyber risk,
• increased private market capital raising and
• over-the-counter derivatives regulation.

Read: CSA seeks input on proposed derivatives registration rule

Comments should be submitted by May 31.

Read the notice and request for comment.

Also read:

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How to avoid losing a client’s trust

BCSC issues $300K fine and permanent ban for fraud

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The staff of Advisor.ca have been covering news for financial advisors since 1998.