Canadian regulators have given a new name to the “prospectus profile,” an idea that has been knocked around in the U.S. over the past eight years.

They are considering requiring fund companies and sales agents to supply investors with a two-page “Fund Facts” synopsis of fund costs and past returns, The Toronto Star reports. Written at a fifth-grade level, it would be void of industry jargon. Fund Facts would not replace prospectuses, however.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.