Regulatory Alerts2022-04-28
Draft Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian securities regulators have issued a draft regulation to amend Regulation 31-103 to enhance total cost reporting for investment funds and segregated funds. The amendment introduces new definitions for fund expenses and direct investment fund charges while requiring investment fund managers to provide daily cost data to registered dealers and advisers. Registered firms must subsequently disclose these total fund expenses and direct charges to clients in account statements and annual reports to improve transparency regarding investment costs.
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