News Release
Canadian securities regulators use videos to raise awareness about client reporting requirements
-
Date:
2016-10-19 -
Number:
2016/84
Vancouver - As part of October's Investor Education month, the Canadian Securities Administrators (CSA) is promoting four videos to raise awareness of changes to how advisers must report to their clients on the costs, performance, and value of their investments.
The changes to reporting requirements are part of an initiative called the Client Relationship Model Phase 2 (CRM2). Under these new requirements, advisers must provide investors with:
- enhanced relationship disclosure information,
- pre-trade disclosure of adviser fees and other charges,
- expanded account statements,
- annual reports on investment performance, and
- annual reports on charges and compensation.
"It's important investors understand these new requirements under CRM2," said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. "CRM2 will improve adviser-client relationships through increased transparency on investment costs and performance, leading to better, more informed investment decisions. These videos present some of the basics of CRM2 in a straightforward and accessible manner, which should help build much-needed awareness."
Investors are encouraged to visit securities-administrators.ca for more information and resources on understanding investments and recognizing fraud. The CSA will also be promoting the videos through its Twitter account @CSA_News throughout the rest of Investor Education Month.
The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
- 30 -
For investor inquiries:
Quebec | Alberta |
British Columbia | Ontario |
Manitoba | New Brunswick 866-933-2222 |
Nova Scotia | P.E.I. |
Newfoundland and Labrador | Yukon 867-667-5466 800-661-0408 local 5466 (Yukon only) |
Nunavut | Northwest Territories |
For media inquiries:
Alison Walker | Kristen Rose |
Nicole Tuncay | Sylvain Théberge |
Jason (Jay) Booth | Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021 |
Jane Anderson | Janice Callbeck |
Kimberly Ryan | Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466 |
Jeff Mason | Tom Hall |
Shannon McMillan |