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Bulletin #0568-P

Policy
Implementation of Amendments to National Instrument 31-103 (Cost Disclosure, Performance Reporting and Client Statements)

Contact: Aamir Mirza
BULLETIN #0568 – P
Senior Legal & Policy Counsel
May 21, 2013
Phone: 416-945-5128
E-mail: amirza@mfda.ca

MFDA Bulletin

Policy

For Distribution to Relevant Parties within your Firm

Implementation of Amendments to National Instrument 31-103 (Cost
Disclosure, Performance Reporting and Client Statements)

As set out in Bulletin # 0564-P, the Canadian Securities Administrators (“CSA”) published a
Notice, on March 28, 2013, advising of the implementation of cost disclosure, performance
reporting and client statement amendments to National Instrument 31-103 Registration
Requirements, Exemptions and Ongoing Registrant Obligations
(“NI 31-103”) and the
Companion Policy to the Instrument. The amendments will come into force on July 15, 2013.
Transition periods of one, two or three years have been provided for most of the new
requirements. MFDA Rules will be amended, as appropriate, to ensure that they are consistent
with requirements adopted under NI 31-103.

MFDA staff recognizes that Members may encounter operational/implementation issues and
questions in preparing to comply with these new requirements. Staff will be meeting with
industry service providers to discuss implementation issues related to systems requirements. In
addition, staff is of the view that it would useful to hear from Members directly. Accordingly,
Members are asked to submit to staff any questions that they may have on specific aspects of the
amendments that may need to be clarified. MFDA staff will be liaising with staff of the CSA to
seek clarification in respect of questions received.

Members are asked to submit questions respecting NI 31-103 implementation issues by email to
Membership Services (membershipservices@mfda.ca).

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