In the wake of the 2008 financial crisis, regulators wanted to raise the level of investor confidence. Measures similar to those recommended by the Canadian Securities Administrators (CSA) were already in force in the UK and are on track to be implemented in Germany and Sweden.
In Canada, the Client Relationship Model (CRM) and CRM Phase 2 are broken into three key steps. All new disclosure of costs and returns recommended in the CRM2 will be made at the mutual fund dealership level. However, advisors will be at the forefront and will have to explain them to their clients.
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Source: BMO Global Asset Management, Invesco Canada
Table: The Insurance and Investment Journal