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The Voice of Canada’s Investment Funds Industry

Stage 3 - Timing

Under stage 3 of the POS Project, the Fund Facts would be provided to the investor at the point of sale for mutual funds. Significant issues for the industry include the potential requirement for pre-delivery of Fund Facts and acceptable delivery methods. IFIC and the industry will be working to secure the flexibility necessary for investors to make timely and informed decisions. In Stage 3, the CSA will also consider the applicability of a summary disclosure document and point of sale delivery for other types of publicly-offered investment funds, including ETFs. IFIC has consistently argued that disclosure rules should be applied as broadly as possible.



Documents

2016
Pre-Sale Delivery of Fund Facts – Plain Language Description for Investors

This document is a Word version of the plain language content developed by the MFDA and IFIC for a statement insert (see below) to inform investors about the requirement (as of May 30, 2016) for dealers to deliver Fund Facts to clients before the purchase of a mutual fund. Firms are welcome to use this content in their communications with investors.


Pre-Sale Delivery of Fund Facts

IFIC and the Mutual Funds Dealers Association (MFDA) have collaborated to produce a statement insert to help the mutual funds industry inform investors about the upcoming requirement for dealers to deliver Fund Facts to clients before they purchase a mutual fund.


Statement Insert Notifying Investors about Pre-Sale Delivery of Fund Facts

IFIC encourages dealers to include the insert with their clients’ quarterly statements or to provide it to investors in some other way. Managers can participate by sending it with trade confirmations and posting it online. A version with crop-marks is available for dealers, managers or their suppliers to download and print. For more information, refer to the document Pre-Sale Delivery of Fund Facts.


Statement Insert Notifying Investors about Pre-Sale Delivery of Fund Facts – For External Printing

IFIC encourages dealers to include the insert with their clients’ quarterly statements or to provide it to investors in some other way. Managers can participate by sending it with trade confirmations and posting it online. IFIC would be interested in knowing which firms decide to pursue this initiative and the quantities that are distributed. For more information, refer to the document Pre-Sale Delivery of Fund Facts.


2014
IFIC Submission to the CSA on the Implementation of Stage 3 Point of Sale Disclosure for Mutual Funds (May 26, 2014)