The Canadian Fund Report is coming – are you ready yet?
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Introduction
A significant regulatory change is anticipated in the Canadian investment landscape, and many firms are still preparing. The Canadian Securities Administrators (CSA) have proposed a new Fund Report rule that intends to modernize the information shareholders receive. This initiative reflects similar disclosure reforms like the U.S. Tailored Shareholder Report (TSR) rule, which Confluence has supported firms with in the past.
What is the Canadian Fund Report?
The proposed rule aims to replace the current Management Report of Fund Performance (MRFP) with a new, investor-focused Fund Report format. The intention is to promote simplicity, clarity, and accessibility—in both English and French—through features like tables, charts, graphs, bullet points, and concise language.
Who will be impacted?
Fund administrators are expected to play a central role in producing these reports on behalf of asset managers. This change may require updates to reporting systems, processes, and timelines.
Why act now?
Although the rule is not yet finalized, it could be implemented within approximately 12 months after publication. Based on market feedback, this timeline may be shorter than anticipated. Early preparation could help reduce potential risks associated with missed deadlines, reporting challenges, or impacts on client trust.
How Confluence is preparing
Drawing on experience supporting the SEC’s TSR rule, Confluence is proactively adapting its Unity Financial Reporting platform to support the Canadian Fund Report requirements. Confluence Unity is:
- Designed with multilingual capabilities to address Canadian dual-language needs
- Built with features designed to align with evolving disclosure needs through flexible templates and workflow automation
- Utilized by administrators managing over 2,300 funds in Canada today
Early preparation can help
While the final rule is pending, firms may benefit from beginning to evaluate and prepare their reporting workflows. Confluence is working with Canadian fund administrators and asset managers to build in bilingual formatting, automate data sourcing, and support distribution.
By starting preparations early, firms can better position themselves to respond efficiently when the rule is finalized. For more information, please contact us.
Disclaimer
The content provided by Confluence Technologies, Inc. is for general informational purposes only and does not constitute legal, regulatory, financial, investment, or other professional advice. It should not be relied upon as a substitute for specific advice tailored to particular circumstances. Recipients should seek guidance from appropriately qualified professionals before making any decisions based on this content.
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About Confluence
Confluence is a global leader in enterprise data and software solutions for regulatory, analytics, and investor communications. Our best-of-breed solutions make it easy and fast to create, share, and operationalize mission-critical reporting and actionable insights essential to the investment management industry. Trusted for over 30 years by the largest asset service providers, asset managers, asset owners, and investment consultants worldwide, our global team of regulatory and analytics experts delivers forward-looking innovations and market-leading solutions, adding efficiency, speed, and accuracy to everything we do. Headquartered in Pittsburgh, PA, with 700+ employees across North America, the United Kingdom, Europe, South Africa, and Australia, Confluence services over 1,000 clients in more than 40 countries.
For more information, visit confluence.com
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