The Québec government has approved amendments to the Securities Regulation that revise the fee structure for market participants and update several administrative provisions governing securities regulation in the province. The amendments primarily focus on updating fees for filings, registrations, exemptions, and regulatory oversight while reflecting changes in Canada’s evolving securities marketplace.

One of the most noticeable features of the regulation is the broad increase in filing fees for prospectuses and related documents. The cost of submitting a preliminary prospectus rises from $1,381 to $2,000, while fees for preliminary simplified prospectuses increase from $1,243 to $1,800. References throughout the regulation are also updated from “Québec” to “Canada” in several provisions, acknowledging the increasingly national nature of securities offerings. For well-known seasoned issuers using the shelf distribution process, a minimum filing fee of $6,905 is introduced when submitting a final prospectus or pricing supplement.

The regulation also changes how annual renewal fees are calculated for certain prospectuses. Rather than relying on fixed dollar amounts, renewal fees will now correspond to the fees paid during the previous financial year. This creates a more consistent relationship between initial filings and subsequent renewals.

The regulation revises fees applicable to reporting issuers and investment funds. Applications involving non-investment fund issuers now carry higher charges, including increases from $2,820 to $5,000 for certain filings and from $1,409 to $2,000 for others. New fees are also introduced for applications seeking full or partial revocation of cease trade orders and for the filing of geological reports, each set at $2,000 and $1,000 respectively.

Another addition requires issuers other than investment funds to pay a $2,000 fee when filing information circulars for special meetings involving major corporate transactions such as going-private deals, reorganizations, mergers, arrangements, or similar business combinations. This reflects the additional regulatory scrutiny associated with complex corporate restructuring activities.

Dealer registration provisions are also updated. The amendments recognize investment dealers and dealers with restricted practice while adjusting registration fees and annual assessments. Applications for registration as a dealer with restricted practice now require a $10,000 payment, and annual fees for investment dealers include a base charge plus additional amounts tied to registered representatives and business locations. Registration fees for chief compliance officers and ultimate designated persons are standardized at $516 across multiple registrant categories.

Quebec (793/2026) June 3, 2026
Disclaimer: Insights are for informational purposes only and does not reflect RRI’s official position or constitute legal opinion.