TORONTO, June 2, 2017 /CNW/ - The Investment Funds Institute of Canada (IFIC) today released a correction to its media backgrounder issued this morning entitled "Global Trends in Financial Services Regulation".
The earlier media release noted that securities regulators opting for a ban on embedded fees represent "13% of total worldwide mutual fund assets of $39.4 trillion". The placement of the statement in the media release next to a reference to four particular countries incorrectly suggests that the figures relate only to four countries.
A revised media release is now available on our website, indicating: "In all, only 13% of total worldwide mutual fund assets of $39.4 trillion are covered, or slated to be covered, by a ban on embedded commissions."
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canada's investment funds industry and its investors for more than 50 years.
SOURCE The Investment Funds Institute of Canada
For further information: Sara Clodman, Senior Manager, Public Affairs (firstname.lastname@example.org | 416-309-2317)