VANCOUVER, Oct. 19, 2016 /CNW/ - 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.
SOURCE Canadian Securities Administrators
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For further information: For investor inquiries: Quebec, 877 525-0337; Alberta, 403-355-4151, 877-355-4488; British Columbia, 604-899-6854, 800-373-6393; Ontario, 416-593-8314, 877-785-1555; Manitoba, 204-945-2548, 800-655-5244; New Brunswick, 866-933-2222; Nova Scotia, 902-424-7768, 855-424-2499; Prince Edward Island, 902-368-4000; Newfoundland and Labrador, 709-729-4834; Yukon, 867-667-5466, 800-661-0408 local 5466 (Yukon Only); Nunavut, 867-975-6591; Northwest Territories, 867-767-9305; For media inquiries: Alison Walker, British Columbia Securities Commission, 604-899-6713; Kristen Rose, Ontario Securities Commission, 416-593-2336; Nicole Tuncay, Alberta Securities Commission, 403-297-4008; Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Andrew Nicholson, Financial and Consumer Services Commission, New Brunswick, 506-658-3021; Jane Anderson, Nova Scotia Securities Commission, 902-424-0179; Janice Callbeck, Office of the Superintendent of Securities, Prince Edward Island, 902-368-6288; Kimberly Ryan, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-2602; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Jeff Mason, Nunavut Securities Office, 867-975-6591; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Shannon McMillan, Financial and Consumer Affairs Authority of Saskatchewan, 306-798-4160