Enhanced Cost Reporting – Proposed Rule Amendments
Summary/details:
The Canadian Investment Regulatory Organization (CIRO) is publishing for comments proposed amendments to the client reporting requirements in CIRO Rules (Proposed Amendments).
The Proposed Amendments seek to further investor protection by mandating enhanced transparency of investment fund costs and ensuring regulatory alignment on the matter. 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 harmonize our 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 (NI 31-103); and
- bridge some of the existing differences in the client reporting requirements and practices of investment dealers and mutual fund dealers.
Date opened: October 10, 2024
Date closed:
Status: Open