SIMA welcomes BCSC fee review, calls for transparency, predictability, and discipline
August 25, 2026 (Toronto) — The Securities and Investment Management Association (SIMA) today made a submission to the British Columbia Securities Commission’s (BCSC) welcoming periodic review of its fees and noting that the review reflects a commitment to the long-term sustainability of the regulator. However, SIMA raises questions and concerns about fee increases and fee-setting.
“While we support the BCSC’s efforts to promote capital formation and growth, we urge any amendments to be considered in light of the multiple fee increases across the entire regulatory environment,” said Andy Mitchell, President and CEO of SIMA. “Regulatory fees should be set within a multi-year framework with accurate cost forecasting so firms can plan, invest, and innovate with confidence,” he said.
The association says the BCSC has an opportunity to demonstrate leadership by anchoring fee-setting in three clear principles: transparency in cost recovery, predictability through multi-year frameworks, and discipline in addressing existing surpluses before raising fees.
SIMA notes that market participants are facing cumulative regulatory cost increases in a short period of time, including recent CSA system fee hikes and the implementation of significant regulatory projects.
In its submission, SIMA:
- questions the rationale for proposed increases in exempt-distribution report-filing fees, noting these highly prescribed reports are ripe for automation and AI-driven efficiencies
- urges the BCSC to adopt multi-year fee frameworks and offer greater insight into cost-recovery calculations, efficiency measures, and how surpluses are managed
- asks for clarification of how the projected $8 million annual fee revenue increase would be allocated among registrants, issuers, and filing types
- strongly supports fee consistency and coordination across Canadian jurisdictions to reduce the cumulative burden on firms operating in multiple provinces
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
