IFIC Welcomes CSA Decision to Adjust Implementation Date for Client Focused Reforms

Toronto, April 16, 2020 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) welcomes the Canadian Securities Administrators' (CSA) decision to provide registrants with additional time to comply with the conflicts of interest and relationship disclosure provisions of the Client Focused Reforms.

"IFIC believes that the CSA has taken a balanced and responsive approach to challenges that firms are experiencing in relation to COVID-19," said Paul Bourque, President and CEO, IFIC. "This extension will enable firms to focus their efforts on responding to the immediate needs of their clients during this difficult time."

Registrants will now have until June 30, 2021 to comply with the conflicts of interest provisions, and relationship disclosure provisions will take effect on December 31, 2021.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation.