Clare O’Hara reports that beginning September 1st, 2017, the Canadian Securities Administrators will require ETF providers to produce and file a summary disclosure document called “ETF Facts”, similar to the mutual fund “Fund Facts” document. The ETF Facts are to be written in plain language and be no more than two pages, double-sided. ETF Facts will be delivered to investors within two days after they purchase the fund, which differs from mutual-fund purchases in which the Fund Facts sheet is delivered before an investor buys a fund. The CSA expects to consider presale delivery of ETF Facts at a later date to create a more consistent disclosure framework between mutual funds and ETFs. FAIR Canada has previously supported the introduction of ETF Facts but has called on regulators to ensure that delivery occurs before an investor buys a fund.