Fund companies must use Fund Facts document instead of a simplified prospectus but point-of-sale disclosure is still on hold
The disclosure documents are being used for client education and advisor research
The expense of these two disclosure initiatives shouldn’t be passed on to investors
Several firms criticize the proposals to enhance disclosure as potentially confusing and misleading
CSA moves to improve risk disclosure
CSA responds to feedback from stakeholders in consultation paper due next week
Fund names not consistent with investment objectives or investment strategies, regulator says
Proposed changes, including changes to risk disclosure, will be published for comment in the spring or summer
The new Fund Facts document is a major step forward; it should be tested and reviewed before further changes are made
Clients like the uniform presentation of information on the forms between fund companies