I agree that CRM2 is a bit of a joke due to the fact that clients will only see the trailing commission part of the MER. And even those people who do look at the total MER on their funds are usually unaware of or don't bother to look up the TER which is an additional charge over and above the MER - admittedly the TER is typically very low but it can be material in funds with high churn or ones that utilise alternative strategies such as options etc.

Furthermore, no doubt following a fight on the beaches etc. by the insurance crowd, insurance products such as seg funds are not covered by CRM2. I did read reports that some advisors had been trying to move their MF clients into seg funds prior to the introduction of CRM2........