SIMA calls for greater transparency and efficiency in OSC fee changes
July 29, 2026 (Toronto) – The Securities and Investment Management Association (SIMA) today has submitted comments on the OSC’s proposed changes to regulatory fees. The OSC’s proposed fee changes are intended to support proportionality among market participants and encourage capital formation and economic growth.
In its submission, SIMA supports the goals of encouraging capital formation and economic growth. However, SIMA stresses the importance of transparency in cost recovery, predictability through multi-year frameworks, and discipline in addressing existing surpluses to help guide amendments across all Canadian jurisdictions.
“We support the OSC’s efforts to promote capital formation and growth for all market participants,” said Andy Mitchell, SIMA’s President and CEO. “At the same time, we urge any amendments to be considered within the context of multiple fee increases and the existing fee models across the broader regulatory environment. We also continue to encourage and propose more fee transparency and predictability across the CSA.”
To support greater visibility, predictability, and efficiency in fee-setting, SIMA highlights several areas for improvement, including:
- Strengthening transparency and accountability regarding reporting standards on costs, KPIs, and reserve governance.
- Moving beyond coordination among the OSC and CSA members and towards a model of regulatory centres of expertise to reduce duplication, improve policy development, accelerate regulatory modernization, and support Canada’s competitiveness.
- Revisiting the revenue-based, participation fee model for institutional investment dealers and deducting financing costs on secured financing transactions from gross revenue when calculating market participation fees.
- Reconsidering and providing further justification for the highest tier of revenue which would result in a substantial regulatory burden for capital markets participants.
SIMA welcomes the opportunity to engage with the OSC and other regulators to develop a fee model that supports a robust, competitive market environment.
About SIMA
The Securities and Investment Management Association empowers Canada’s investment industry. It is the leading voice for the securities and investment management industry, which oversees approximately $4.5 trillion in assets for over 20 million investors and Canadian capital markets participants. SIMA members—including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers—are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.
For more information
Christine Harminc
Director, Communications and Public Affairs
charminc@sima-amvi.ca
416-309-2313
