For Immediate Release
October 19, 2016

Canadian securities regulators use videos to raise awareness about client reporting requirements

Vancouver – 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.

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
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