The Canadian Securities Administrators (CSA) have announced a multi-year research project that will measure the impact of CRM2 requirements and Point of Sale amendments–on both investors and the industry.

The research will measure outcomes related to investor knowledge, attitude and behaviour. It will also look at the practices, fund fees and product offerings of registrants.

Read: Don’t make these two investment mistakes

CSA adds the project will cover activity from 2016 through 2019, and that it’s expected to be completed by 2021.



On July 15, 2013, CRM2 amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations became effective. These amendments were designed to ensure investors receive clear and complete disclosure of the performance of their investments, as well as information about all fees associated with their accounts (including registrant compensation).

The amendments came into effect in three phases: July 15, 2014, July 15, 2015, and July 15, 2016.


On June 19, 2009, POS amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure were proposed to help investors make more informed investment decisions. The goal is to provide them with important and plain-language information about mutual funds prior to purchase.

The majority of these amendments became effective March 11, 2015. But the final amendments, which require mutual fund dealers to deliver easy-to-understand Fund Facts documents to investors before the purchase of a mutual fund, became effective May 30, 2016.


Don’t forget: Deliver fund facts before clients invest

IFIC calls for changes to mutual fund taxation, group RRSP rules