The Canadian Securities Administrators (CSA) has published final amendments to modernize the continuous disclosure regime for investment funds, aimed at reducing ongoing compliance burden for investment fund managers while maintaining timely, high-quality disclosure for investors. Key changes include exemptions from certain conflict of interest reporting requirements where similar obligations are already met, elimination of some class- or series-level disclosures from investment fund financial statements that are not required under International Financial Reporting Standards, and minor editorial and other revisions to the simplified prospectus form. The amendments take effect on April 22, 2026. The CSA’s September 19, 2024 consultation also included a proposal to replace the annual and interim Management Report of Fund Performance with a new annual and interim Fund Report; based on stakeholder feedback, the CSA will develop and test a revised Fund Report and publish it later for a further comment period.
Canadian Securities Administrators 2026-01-22
Canadian Securities Administrators finalise continuous disclosure reforms for investment funds effective April 22, 2026
The Canadian Securities Administrators (CSA) have finalized amendments to modernize the continuous disclosure regime for investment funds, reducing compliance burdens while ensuring quality disclosure. Key changes include exemptions from certain conflict of interest reporting requirements and elimination of some disclosures not required under International Financial Reporting Standards, effective April 22, 2026.