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On Wednesday, Sino-Forest disclosed it had received a second enforcement notice from the OSC.Peter Power/The Globe and Mail

The Ontario Securities Commission is raising the fees it charges the companies under its watch in order to erase its current deficit and return to breaking even by 2016.

The new fees will see an increase of 11.65 per cent for reporting issuers and 4.7 per cent for registrants. Both increases are lower than those first proposed in August, when they were put out for public comment.

Most of the money raised from the hikes will go toward getting the Commission out of its current fiscal hole. This year alone the OSC posted a deficit of $10.7-million. The OSC does not try to make money, but it has been drawing down its surplus for the past few years because its fees have not been high enough to recover all of its costs.

The Commission also needs more money to increase surveillance. "To maintain competitive capital markets in Canada, the OSC must align its regulatory framework to be consistent with important global reforms and standards including G20 commitments (derivatives and systemic risk), increasingly complex international enforcement files, changing oversight responsibilities related to market infrastructure entities and new complex products," said the OSC, in a statement.

The new fees align with budget increases of 5 per cent annually and they will allow OSC to recover costs by fiscal 2016.

To be as equitable as possible, the hikes differ depending on each member's level of participation in the Ontario capital markets