VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/19/16 -- 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 Autorite des marches 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.
For investor inquiries:
Quebec Alberta
877 525-0337 403-355-4151
877-355-4488
British Columbia Ontario
604-899-6854 416-593-8314
800-373-6393 877-785-1555
Manitoba New Brunswick
204-945-2548 866-933-2222
800-655-5244
Nova Scotia Prince Edward Island
902-424-7768 902-368-4000
855-424-2499
Newfoundland and Labrador Yukon
709-729-4834 867-667-5466
800-661-0408 local 5466 (Yukon Only)
Nunavut Northwest Territories
867-975-6591 867-767-9305
Contacts:
Alison Walker
British Columbia Securities Commission
604-899-6713
Nicole Tuncay
Alberta Securities Commission
403-297-4008
Jason (Jay) Booth
Manitoba Securities Commission
204-945-1660
Jane Anderson
Nova Scotia Securities Commission
902-424-0179
Kimberly Ryan
Office of the Superintendent of Securities
Newfoundland and Labrador
709-729-2602
Jeff Mason
Nunavut Securities Office
867-975-6591
Shannon McMillan
Financial and Consumer Affairs
Authority of Saskatchewan
306-798-4160
Kristen Rose
Ontario Securities Commission
416-593-2336
Sylvain Theberge
Autorité des marchés financiers
514-940-2176
Andrew Nicholson
Financial and Consumer Services
Commission, New Brunswick
506-658-3021
Janice Callbeck
Office of the Superintendent of Securities
Prince Edward Island
902-368-6288
Rhonda Horte
Office of the Yukon Superintendent of Securities
867-667-5466
Tom Hall
Office of the Superintendent of Securities
Northwest Territories
867-767-9305
