The Globe and Mail reports in its Thursday edition provincial securities regulators
have agreed to a request from brokers to delay an
interim target for implementing
new investor disclosure rules, but
have told the industry they will
not shift the final full implementation
date in 2016.
The Globe's Janet McFarland writes the umbrella group Canadian Securities Administrators
will change a target for the
long-awaited Client Relationship
Model Phase 2 (CRM2) rules from
July 15, to Dec. 31. However, the
regulators said the final deadline
to fully implement new rules will
remain July 16, 2016.
The rules will require brokerage
firms and mutual fund dealers to
give investors detailed information
about the annual performance
of their portfolios and the
fees they have paid on their
investments. Brokers, represented by the Investment
Industry Association of Canada, sent a
request to regulators in December
asking them to delay both
the interim and final deadlines.
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