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ARTICLE · 23 DECEMBER 2014

CSA Adopt Fund Facts Pre-Sale Requirements For Mutual Funds

Stikeman Elliott LLP
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The Canadian Securities Administrators today announced amendments to mutual fund prospectus disclosure rules to implement the pre-sale delivery of Fund Facts

CanadaFinance and Banking
Stikeman Elliott LLP
Stikeman Elliott LLP
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The Canadian Securities Administrators today announced amendments to mutual fund prospectus disclosure rules to implement the pre-sale delivery of Fund Facts. The amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure represent the third stage of the CSA's point of sale disclosure project for mutual funds.

Under the amendments, the most recently filed Fund Facts will have to be delivered to a purchaser before a dealer accepts an instruction for purchase. This delivery requirement will apply to all purchases, including both full service accounts and order execution-only accounts. There will be an exception, subject to certain conditions, where the purchaser instructs the dealer that the purchase must be completed immediately or by a specified time and it is not reasonably practicable to complete pre-sale delivery. In such a case, the Fund Facts will have to be delivered within two days of purchase. This exception will only be available on a

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