The CSA today published for a second time proposed amendments to NI 81-101 Mutual Fund Prospectus Disclosure regarding the delivery of Fund Facts following the purchase of a mutual fund. As we discussed last year, the CSA initially released their Stage 2 proposals in August 2011, and the current version of the amendments are intended to address stakeholder feedback.
Stage 2 of the point of sale disclosure framework is intended to allow the delivery of Fund Facts to satisfy the requirements under securities legislation to deliver a prospectus within two days of buying a mutual fund. The changes published today focus primarily on the requirements regarding the presentation of risk in the Fund Facts document.
Comments on the proposed amendments are being accepted until September 6, 2012.