CSA Adds Managerial Requirements

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    The Canadian Securities Administrators (CSA) are implementing requirements to ensure all investors receive essential information about the costs and performance of their investments. The requirements apply to all firms registered to deal in securities or act as portfolio managers and are set out in amendments to National Instrument 31-103 ‘Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103).’ It is taking these steps as research shows that many investors currently do not receive this information. Providing investors with clear and meaningful information about the costs and performance of their investments will enable them to assess their progress toward their investing goals and the value of professional advice they receive. Investors can expect cost disclosure what product and service costs they can expect to pay; transaction and any deferred costs; and, annually, a summary in dollar terms of what they were charged.