Regulatory Alerts2022-04-28
Draft Amendments to Policy Statement 31-103 on Total Cost Reporting for Investment Funds
The Canadian securities regulators have issued draft amendments to Policy Statement 31-103 to enhance total cost reporting requirements for investment funds and segregated funds. The changes mandate that investment fund managers provide detailed position cost and fund expense data to dealers and advisers, while also establishing protocols for firms to obtain this information when direct data is unavailable. Additionally, the amendments clarify rules to prevent double counting of charges in client reports and introduce a standardized Appendix D template for disclosing account statements and annual charges.
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