XBRL US commented on the Canadian Securities Authorities (CSA) Notice and Request regarding the proposal to modernize the continuous disclosure regime for investment funds. The aim of the amendment is to make improvements that will benefit investors, investment fund managers, and other stakeholders.
Our letter suggested that the CSA amend the proposal to include the adoption of open, nonproprietary data standards for fund disclosures as this approach will allow information to be more easily, and on a timelier and more reliable basis, extracted and leveraged, which will benefit both retail and institutional investors. The adoption of open data standards for regulatory reporting will also align Canadian investment fund company reporting with disclosure trends in the United States and other countries.
Read the letter: XBRL US Ltr to CSA National Instrument 81-101 Mutual Fund Prospectus
