On September 19, the Canadian Securities Administrators announced two research initiatives to review Canada's mutual fund fee structure. The first will involve collecting and reviewing data on whether sales and trailing commissions influence sales, while the second will include a literature review to consider whether the use of fee-based as opposed to commission-based compensation changes the nature of advice and investment over the long term.

As we've previously discussed, the CSA released a discussion paper in December 2012 to solicit feedback on the structure of mutual fund fees in Canada, while a December 2013 status report identified a number of key themes emerging from the consultation process. 

Results of the research are expected to be publicly released in the first quarter of 2015.