Credit hours are based on self-assessment.
This one day course reviews the Client Relationship Model Phase 2 changes affecting NI 31-103 and IIROC Dealer Member Rules 29, 200 and 3500. CRM II requires dealers and portfolio advisors to provide investment performance reports to their clients every year. Implementation of the performance reports, annual account fee/charge reporting and other disclosure requirements will take place gradually from 2013 through to 2016.

This course is designed to give the participants a clear understanding of how the CRM  Phase 2 rules affect their business in particular with disclosure of fees and performance to clients. We’ll take a practical, hands-on approach to explaining portfolio valuation, the difference between time-weighted and money-weighted performance reporting as well as comparing the CRM2 performance reporting to GIPS.



Day 1
  • Overview of CRM
  • Ins and Outs of Investment Returns – what is a return
  • Valuing the portfolio
  • Identifying Transactions
  • Calculating returns
  • Modified Dietz
  • Investment Performance Reports
  • CRM2 versus GIPS
  • Annual Report on Charges and other Compensation
  • Benchmarks
  • Pre-trade Disclosure of Charges
  • Expanded Trade Confirmations
  • Expanded Statements of Account
  • Additional Statements
  • Position Cost Information
  • Implementation Time Table Recap

  • QUIZ



This course will be of interest to persons who are:

  • Compliance and Operations (Name and Address) personel
  • Sales and Trading
  • Portfolio Managers
  • Executives
  • IT staff involved in implementing CRMII system updates

Students will:

  • Clearly understand the fundamental changes to performance reporting in CRM II.
  • Explain and understand the differences between time-weighted and money-weighted returns.
  • Explain and understand the differences between CRM II and GIPS performance reporting.
  • Clearly understand the disclosure requirements of CRM II    
  • Understand the proper use of benchmarks.
  • Understand the best interest duty obligations when advising clients.

Follow up courses


Note:  Location of classes will be confirmed closer to the date of the course.

Instructor TBA before scheduled class.