Canadian Investment Regulatory Organization (CIRO) - Rules Bulletin - Request for Comments - Enhanced Cost Reporting - Proposed Rule Amendments
CIRO - Rules Bulletin - Request for Comment - Enhanced Cost Reporting - Proposed Rule Amendments
CIRO - Investment Dealer and Partially Consolidated Rules Proposed Rule Amendments relating to Enhanced Cost Reporting Clean version of the proposed amendments
CIRO - Investment Dealer and Partially Consolidated Rules Proposed Rule Amendments relating to Enhanced Cost Reporting Blackline version of the proposed amendments
CIRO - Mutual Fund Dealer Rules Proposed Rule Amendments relating to Enhanced Cost Reporting
CIRO - Mutual Fund Dealer Rules Proposed Rule Amendments relating to Enhanced Cost Reporting Blackline version of the proposed amendments
CIRO Bulletin - Summary table of the Proposed Amendments alongside the CSA’s TCR Enhancements
The Canadian Investment Regulatory Organization (CIRO) is publishing, for a 90-day comment period, proposed amendments to the client reporting requirements in both the Investment Dealer and Partially Consolidated Rules and the Mutual Fund Dealer Rules (referred to as CIRO Rules in this publication). The proposed amendments introduce new requirements with the intent to further protect investors by aligning the CIRO Rules to applicable provisions of securities legislation and enhancing transparency of investment fund costs. Specifically, the proposed amendments:
- Expand Dealer Member’s responsibility to report to their clients, on top of their own fees and charges, ongoing investment fund expenses and charges incurred by the client
- Materially harmonise CIRO’s cost reporting requirements with the Total Cost Reporting Enhancements (CSA’s TCR Enhancements) recently introduced in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations; and
- Bridge some of the existing differences in the client reporting requirements and practices of investment dealers and mutual fund dealers.
- CIRO’s notice sets out the process for submitting comments.
Published: October 10, 2024