Formal guidelines for capital accumulation plans will help provide a similar level of regulatory protection for all investors making similar types of investment decisions, the Joint Forum of Financial Market Regulators says.

The Joint Forum Friday released proposed guidelines for CAPs for public comment, setting a deadline for submissions of Aug. 31.

The proposed guidelines describe the rights and responsibilities of CAP sponsors, service providers and CAP members; outline the information and assistance that should be available to CAP members when making investment decisions; and ensure that regardless of the regulatory regime, there is similar regulatory results for all CAP products and services.

CAPs include all employer-sponsored savings plans in which employees are empowered to decide how their savings are invested. They include many defined contribution pension plans as well as, for example, group RRSPs, employer stock purchase plans, and profit sharing plans.

“We have also developed a discussion document that outlines an implementation strategy framework,” David Wild, chair of the Joint Forum said in a statement. “We encourage comments from plan sponsors, service providers and plan members to help us identify their implementation issues and let us know whether the guidelines will work for them.”

Copies of the proposed guidelines can be viewed at www.capsa-acor.org or www.ccir-ccrra.org and on many CSA member Web sites.