Soft-dollar commissions rule comes into effect today
As we discussed in October 2009, National Instrument 23-102 Use of Client Brokerage Commissions, which seeks to regulate soft dollar arrangements across Canada, stipulating the types of goods and services that may be acquired with client brokerage commissions and prescribing related disclosure requirements, comes into force today.
Further, amendments to Form 81-101F2 Contents of Annual Information Form and Form 41-101F2 Information Required in an Investment Fund Prospectus, intended to ensure consistency between disclosure requirements for advisers under NI 23-102 and similar disclosure prescribed for investment funds are also effective today.
