SALES PRACTICES ON THE REGULATORY DOCKET….AGAIN
On September 22, 2022, the CSA announced that they are reviewing the practices of investment fund managers with principal distributors. The CSA distributed surveys in early September to investment management firms and distributors with an aim to understand the scope of their arrangements and inform their view on whether amendments to National Instrument 81-105 Mutual Fund Sales Practices are needed. Considering the Canadian sales practices rules and expectations are already viewed as overly prescriptive and over engineered in contemplating principal distributor models, the IIAC Investment Management Committee will be monitoring this closely, and will consider making a pre-emptive submission.