CSA Securities

Toronto – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 23-322 Trading Fee Rebate Pilot Study. The notice sets out the CSA’s next steps regarding the consideration of a pilot study that would examine the impacts of reducing marketplace trading fee rebate payments.

With the United States Securities and Exchange Commission’s (SEC) recent announcement of a proposed pilot to study the impacts of transaction fees and rebates, the CSA is welcoming input or comments from stakeholders on the possibility of a similar study in Canada.

The notice provides background on factors that have led to the CSA’s consideration of a test study, and the CSA will consider coordination with any SEC study, where appropriate.

Any Canadian proposal to introduce a pilot study will be published in a separate notice with request for comment.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

CSA member name

Point of contact

Phone number

Alberta Securities Commission

Hilary McMeekin


Autorité des marchés financiers

Sylvain Théberge


British Columbia Securities Commission

Alison Walker


Financial and Consumer Affairs, Authority of Saskatchewan

Shannon McMillan


Financial and Consumer Services Commission, New Brunswick

Andrew Nicholson


Government of Prince Edward Island, Superintendent of Securities

Steve Dowling


Manitoba Securities Commission

Jason (Jay) Booth


Nova Scotia Securities Commission

David Harrison


Office of the Superintendent of Securities, Newfoundland and Labrador

John O’Brien


Office of the Superintendent of Securities, Northwest Territories

Tom Hall


Office of the Yukon Superintendent of Securities

Rhonda Horte


Ontario Securities Commission

Kristen Rose