The new requirements for Fund Facts and the newly announced ETF Facts would come into effect in March and will be required as of September
Although increasing compliance and regulation are perceived as burdens to many advisors and their firms, the business case for more efficient disclosure is compelling
How to help clients avoid confusion
Mackenzie and Quadrus will not have to deliver the document to clients if they’re in a program that automatically switches them to a lower-fee series
The research will cover activity from 2016 through 2019 and is expected to be completed by 2021
Although new delivery requirements for Fund Facts kick in this month, looming reforms to a key component of the disclosure document remain a work in progress
Advisors must understand what “delivery” means — including the exceptions — to ensure they’re prepared to meet the new requirements
Some insurance products and ETFs are in regulators’ sights
Advisors who sell mutual funds face new risk and cost disclosure rules. Learn what you need to know to build client trust — and what to avoid. Register and earn CE credits.
The move to pre-trade delivery of Fund Facts is set for May 30