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Regulators propose rules to improve investment disclosure

Regulators are proposing a set of rules that would require investment dealers and advisors to disclose to clients the costs and performance of their investments.

The Canadian Securities Administrators (CSA) said in an announcement that registered dealers and advisors would have to provide clients with annual reports showing how much they were paid for their products and services and the performance of the clients’ investments.

Thursday’s announcement is the “second comment period” for the proposals that were first introduced in June 2011.

The regulators are also looking to enforce further rules and disclosures on fixed income commissions, better account statements and a standardized method for determining the market value of securities.

“This is an important investor protection initiative that aims to help investors better understand the costs and performance of their investments,” Bill Rice, Chair of the CSA and Chair and chief executive officer of the Alberta Securities Commission said in statement.

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