Regulatory Alerts2023-04-20
CSA and CCIR Notice of Publication: Total Cost Reporting Enhancements for Investment and Segregated Funds
The Canadian Securities Administrators and the Canadian Council of Insurance Regulators are adopting enhanced cost disclosure requirements for investment funds and individual variable insurance contracts to improve investor awareness of ongoing embedded fees. These Total Cost Reporting Enhancements mandate that registrants and insurers provide specific annual reports detailing fund expenses, direct charges, and expense ratios, with implementation scheduled for January 1, 2026. The regulatory framework harmonizes disclosure standards across the securities and insurance sectors while allowing for reasonable approximations and exemptions in limited circumstances to balance regulatory burden with investor protection.
Share