Pre-sale Delivery of Fund Facts
As of May 2016, a document called “Fund Facts” will be transmitted to you before you proceed with an initial purchase of a mutual fund.
This measure was introduced by the Canadian Securities Administrators (CSA).
Why was this change made?
The amendments made by the CSA change the timing of the Fund Facts delivery. Rather than being delivered within two days following the purchase of the mutual fund, the most recent Fund Facts must be delivered to investors prior to completing the transaction.
The CSA introduced this measure to give you time to examine important mutual fund information before making your purchase.
How will Fund Facts be provided to you?
If you purchase a mutual funds through our transactional website, Fund Facts will be provided to you before confirming your transaction.
If you carry out your transaction over the phone with one of our representatives, Fund Facts will be delivered to you prior to your purchase, by email, fax or regular mail, as you choice.
The CSA has confirmed that it will not be necessary to re-send Fund Facts to investors who have already received the most recent version. Clients with pre-authorized contribution plans will only receive Fund Facts upon the initial subscription.
What do you have to do?
It is your responsibility to read Fund Facts every time you invest in a new mutual fund in order to familiarize yourself with its main features.
Fund Facts will be transmitted to you each time you purchase a mutual fund for the first time and when the document is updated, which will be at least once a year or whenever an important change is made; otherwise, the purchase cannot be transmitted.
What is Fund Facts?
Fund Facts is an important document that contains key information about the mutual fund you want to invest in. Every mutual fund has its own Fund Facts including important information about its holdings, its performance and the risks and costs associated with investing in the fund.
To learn more, visit the Canadian Securities Administrators website to see an interactive Fund Facts
Contact us by using “Write us” in the Message Centre on our trading platform at nbdb.ca
or by email firstname.lastname@example.org
. You can also reach us at 1-800-363-3511 or 514-866-6755, option 3.
For more information, refer to the full text
of the amendments to the point of sale disclosure regime.