Friday June 19 2015
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Canada
Link: http://www.securities-administrators.ca/aboutcsa.aspx?id=1356
The Canadian Securities Administrators (CSA) has published for comment proposed amendments that will require exchange-traded mutual funds (ETFs) to produce and file a summary disclosure document called “ETF Facts.” The proposed amendments also introduce a delivery regime for ETF Facts.
The proposed ETF Facts is written in plain language, is no more than two pages double-sided and highlights key information that CSA research has identified as important to investors.
Under the proposed amendments, an ETF would have to produce and file an ETF Facts and make it available on the ETF’s or the ETF manager’s website. Additionally, dealers that receive an order to purchase ETF securities would be required to deliver an ETF Facts to investors within two days of the purchase. A prospectus will continue to be available to investors at no cost.
Click on the link above for further details