The Alberta Securities Commission (ASC) has released a new fee schedule, and among the changes are higher registration fees for firms and individuals.

The ASC published its proposed fee schedule in Rule 13-501 on November 2. Among other things, it will create a new participation fee model for reporting issuers (other than investment funds) and will introduce fees for international dealers and international advisers. The proposals will also raise registration fees for both firms and individuals in the province.

The regulator says that, over the last ten years, its obligations have increased and it therefore requires additional financial resources. In particular, the ASC says its needs more money to effectively monitor the exempt market, handle enforcement cases, and deal with fraud.

“With significant changes in the size and complexity of Alberta’s capital market over the past ten years, the proposed changes are essential for the ASC to continue to fulfill our mandate of ensuring a fair and efficient capital market and protecting investors,” comments the ASC’s interim chairman and CEO Tom Cotter. “Acknowledging that these changes come during a difficult financial period in Alberta, we believe the new fee structure represents an appropriate balance between the necessity of balancing the ASC’s budget with any impact increased regulatory costs may have on market participants.”

Comments on the proposals may be made up until January 18, 2016. Provided it receives ministerial approval, the proposed rule is scheduled to come into force on December 1, 2016.