CSA Canadian Securities Administrators

For Immediate Release
July 16, 2013

CSA Requirements to Improve Disclosure for Investors Are Now In Effect

Toronto – The Canadian Securities Administrators (CSA) are delivering on their investor protection commitments with new disclosure requirements that will provide investors with clear and meaningful information about their investments. The amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) are now in effect, with key elements being phased in over three years to allow industry sufficient time to meet the new requirements. 

The amendments ensure that all investors receive the same information about the cost and performance of their investments and that the same standard to disclose this information is applied to all firms registered to deal in securities or act as portfolio managers.

“Research shows that investors across Canada lack vital information about the cost and performance of their investments,” said Bill Rice, Chair of the CSA and Chair and Chief Executive Officer of the Alberta Securities Commission. “These amendments demonstrate the CSA’s commitment to arm investors with sufficient account information to make informed decisions about their investments.”

Over the next three years, investors can expect:


More information on the amendments and what this means for investors and industry is available on CSA members’ websites.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinate and harmonize regulation for the Canadian capital markets.

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For more information:

Carolyn Shaw-Rimmington
Ontario Securities Commission

Mark Dickey
Alberta Securities Commission

Sylvain Théberge
Autorité des marchés financiers

Richard Gilhooley
British Columbia Securities Commission

Ainsley Cunningham
The Manitoba Securities Commission
New Brunswick

Wendy Connors-Beckett
Financial and Consumer Services Commission,

Tanya Wiltshire
Nova Scotia Securities Commission

Daniela Machuca
Financial and Consumer Affairs
Authority of Saskatchewan

Janice Callbeck
The Office of the Superintendent of
Securities, P.E.I.

Doug Connolly
Service NL

Rhonda Horte
Office of the Yukon Superintendent
of Securities

Louis Arki
Nunavut Securities Office

Donn MacDougall
Office of the Superintendent of Securities
Government of the Northwest Territories