SIMA Pushes for Transparency in OSC Fee Overhaul
Event summary
- SIMA submitted comments on July 29, 2026 regarding OSC's proposed regulatory fee changes.
- OSC aims to support proportionality among market participants and encourage capital formation.
- SIMA advocates for transparency in cost recovery, multi-year predictability frameworks, and addressing existing surpluses.
- Key recommendations include revisiting revenue-based participation fees and reconsidering the highest revenue tier.
The big picture
SIMA's intervention highlights growing concerns over regulatory cost structures amid multiple fee increases. The push for transparency comes as Canadian regulators balance the need for robust oversight with maintaining a competitive market environment for an industry managing $4.5 trillion in assets. The debate reflects broader trends toward regulatory efficiency and proportionality in global capital markets.
What we're watching
- Regulatory Alignment
- Whether the OSC and CSA can harmonize fee models across Canadian jurisdictions to reduce fragmentation.
- Cost Predictability
- The pace at which multi-year frameworks for regulatory fees are implemented to improve market participant planning.
- Competitive Impact
- How fee adjustments will affect Canada's competitiveness in attracting capital and investment activity.