New rules known as CRM2 were developed by Canadian regulators in order to provide investors with more information and to make it easier for them to understand their investments.
Since July 15, 2014, dealers have been providing a description of benchmarks, and fees have been disclosed in advance of trades. In December 2015, improvements were made to clients’ investment statements.
In the first half of 2017, you began receiving new annual reports with detailed information about the costs associated with your account and the fees that you pay. On the performance side, you began receiving an individualized performance report. This report provides you with detailed information about how your investments performed after the costs have been taken into account.
CRM2 provides investors with more information to improve investor knowledge and decision-making. This will create better conversations between investors and their advisors.