Regulatory Alerts2024-11-28
Draft Amendments to Policy Statement to Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian securities regulators amend Policy Statement to Regulation 31-103 to require mutual fund principal distributors to disclose payments received from investment fund managers. Registered firms must include a footnote in their reporting specifying the maximum percentage of management fees paid to them for principal distributor services. This amendment clarifies that such disclosed payments do not need to be redundantly reported under a separate disclosure paragraph to ensure transparency regarding the distributor's interests.
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