Canada Proposes its Own Version of Prospectus Profiles

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.