Regulatory Alerts2023-04-20
Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The regulator amends Regulation 31-103 to enhance transparency regarding investment fund costs by introducing new definitions for direct investment fund charges, fund expense ratios, and newly-established investment funds. The amendments impose a duty on registered investment fund managers to provide detailed fund expense data to dealers and advisers, who must then report specific dollar amounts and ratios to clients in periodic statements. These reporting requirements, including mandatory explanatory notifications and calculation formulas, are scheduled to come into force on January 1, 2026.
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