Securities Law & Instruments

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Notice of General Order
Ontario Instrument 13-505
Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees.

 

April 17, 2020

Notice of General Order

Ontario Instrument 13-505

Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees

As a result of the Coronavirus pandemic ("COVID-19"), the Ontario Securities Commission (the "Commission") is providing market participants with temporary relief from the accrual of late fees charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees (OSC Rule 13-503).

Description of Order

The order provides that all late fees under OSC Rule 13-503 cease to accrue in the period beginning on April 17, 2020 and ending June 1, 2020.

Reasons for the Order

As a result of the outbreak of COVID-19 certain market participants may experience difficulties in making filings and payments required by OSC Rule 13-503. Under the circumstances, the Commission has determined that it would not be prejudicial to the public interest to grant this temporary relief from the accrual of late fees.

Day on which the Order Ceases to Have Effect

The order comes into effect on April 17, 2020 and expires on June 1, 2020.