Investor Research Reports and Document Testing
To assist in developing the proposed amendments to NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (Cost Disclosure, Performance Reporting and Client Statements) , the CSA sought feedback from investors related to account reporting practices, cost disclosure and performance reporting. From July 2011 through January 2012, research involving retail investors and investors in the exempt market was conducted in connection with the CSA's continuing work on what securities should be included in client reporting. Also, in July 2010, approximately 2,000 investors were surveyed to learn more about their understanding and expectations relating to charges and disclosure, and performance measures and reporting. As well, in January and February 2011 document testing of a sample performance report was performed on a one-on-one basis with investors, dealers and advisers to obtain reactions on its usefulness, clarity and overall appeal. Please see below for reports.