Compliance Memo

Compliance Memorandum 2014-04; Point of Sale Document (Fund Facts)

For more information, contact:

Compliance Team

Date Issued:

June 2, 2014

As a reminder, effective June 13, 2014, the Fund Facts Document will replace the Prospectus as the mandatory regulatory disclosure document that must be provided to an account holder when purchasing a mutual fund. The Prospectus may be provided to the account holder as supplemental material, however the Fund Facts Document must be provided.

The Fund Facts Documents can be found on each of the mutual fund company websites, in the same area as the prospectus documents. Please note that Fund Facts Documents are class and series specific, and you must provide the most recent version of the Fund Facts Document for the specific class or series of the fund being recommended to an account holder.

Financial Advisors are reminded that the Fund Facts Document, like the prospectus before it, must be provided within 48 hours from the purchase of any new mutual fund. It is the responsibility of the financial advisor to evidence or document the delivery of the Fund Facts Document as no account holder signature is required to acknowledge receipt.
We will be updating several forms to include a tick box where a financial advisor can record and evidence the delivery of the Fund Facts Document.

As always, if you have any questions or comments, contact the Compliance Department by email at