Regulatory Alerts2024-03-07
CSA Staff Notice 81-334 (Revised): ESG-Related Investment Fund Disclosure
The Canadian Securities Administrators issued revised guidance to clarify disclosure and sales communication requirements for investment funds considering environmental, social, and governance factors. The Notice introduces a tiered classification system for funds based on the significance of ESG integration to reduce greenwashing and ensure consistent investor information. It provides specific regulatory expectations for fund names, investment strategies, risk disclosures, and proxy voting policies while encouraging industry adoption of standardized ESG terminology.
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