On October 10, 2024, CIRO released Enhanced Cost Reporting – Proposed Rule Amendments. These amendments seek to harmonize CIRO member investment dealer and mutual fund dealer cost reporting requirements with the Total Cost Reporting Enhancements recently introduced in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. The changes would expand a dealer member's responsibility to report on ongoing investment fund expenses and charges incurred by their clients. The proposed changes also aim to resolve some of the existing differences in client reporting requirements and practices of investment dealers and mutual fund dealers. Stakeholders are encouraged to comment by January 8, 2025. The consultation notes that it is likely that these proposed amendments will be implemented before the dealer consolidated rule project is completed.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
