December 10, 2007
This is a long overdue proposal. The SEC is to be commended Hopefully it will be written in plain english. Lawyers have caused current mutual fund prospectuses to be nothing but unintelligible, cover their legal butts, gobbeldygook documents that only confuse investors.
Try to keep it to two pages, not "three or four". Also let it be distributed manually without the remainder provided unless the investor requested it. Put a "decline" box on the summary prospectus so the investor can reject being provided the entire prospectus. Everything any normal investor might want is provided in the summary.
Good job
Jon S. Fossel