Answer: GIPS standards are a recognized standard for calculating and presenting investment performance around the world. While Canadian securities laws do not require a firm to comply with GIPS standards, a firm may wish to do so in order, for example, to demonstrate a commitment to adhere to global best practices. Verification of compliance with GIPS standards by a qualified third-party is recommended as it provides comfort and reduces the risk of making an incorrect claim. That being said, external, third-party verification is not strictly required for a firm to claim compliance with GIPS standards. A firm can self-certify that it complies with GIPS standards and annually notify CFA Institute of its claim by June 30th in order to be included in CFA Institute’s List of Organizations Claiming Compliance with GIPS standards. CFA Institute does not represent or verify that the firms included on the list meet the GIPS standards or engage in the review, enforcement, or quality control of such firms.

June 30, 2021