The public body charged with regulating financial transactions in the capital markets and cryptocurrency has yet to find a way to accept e-transfers and credit cards for the new $10 fee it charges for applications for information.
“What I find so ironic about this is the B.C. Securities Commission is the body charged with overseeing all of the corporate governance of public companies across the province. They accept fees from corporations on a regular basis.
Under the act, a public body does not have to start looking for information until it receives payment. It then has 30 days to respond. Woywada noted that when it filed a request to the commission recently, the commission charged BC FIPA its side of the wire transfer fee, thus costing BC FIPA $40 for the transfer in addition to the $10 fee.
“They've got any arbitrary way they want to collect. We've asked them if they want carrier pigeons,” said Woywada, tongue in cheek. Woywada said the fee is compounding pre-existing barriers to the freedom of information system, which is already plagued by illegal delays and obstruction with little accountability.
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