CSA and CCIR finalize CRM3 rules, give industry until 2026 to adopt
Regulators objected to applying "best execution" duties to fund selection
Regulatory efficiency saves costs and ultimately benefits investors
Rules aim to make it easier for funds to meet redemptions amid market stress
Proposals would allow fund managers to post financial statements and management reports on designated websites
The delivery of policy shouldn’t be a last step
Reforms will take effect in 2022, and regulators promise more to come
Loss of third-party fund distribution seen as "unintended consequence" in 2018
The industry has standardized its LTA practices
CSA issues guidance for fund managers on liquidity risk