Canada:
IIROC Requests Comments On Proposed "Rate By Revenue" Fee Model
06 December 2010
Stikeman Elliott LLP
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As we discussed in
a post of April 30, IIROC proposed a
new dealer regulation fee model earlier this year that would
incorporate a "rate by revenue tier" approach to dealer
regulation. IIROC has now developed such a market regulation fee
model, which it published for comment on November
30. The proposed model would see each marketplace charged a fee
based on the marketplace's share of the total number of
messages processed by IIROC's surveillance system (in order to
recover the IT costs of surveillance), as well as a fee based on
the marketplace's share of the total number of trades (in order
to recover all other regulation costs). IIROC would continue to
collect the market regulation fee from dealer members (the minimum
monthly fee would be $4,800 per member), but marketplace-specific
costs would be recovered directly from the marketplace that
incurred such costs. IIROC is accepting comments on the proposed
new fee model until January 29, 2011. For more information, see IIROC Notice
10-0316.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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