SEC Seeks Views From Investors on Proposals to Improve Mutual Fund Disclosure
Under the proposals, every mutual fund prospectus would include a summary section, consisting of the following key information about the fund:
It is the Commissionís intent that this information would be presented in three or four pages at the front of the prospectus.
The Commission is also proposing to permit mutual funds to send or give you the summary information while providing the prospectus online and, upon your request, sending you a paper copy of the prospectus.† The proposal is intended to provide you with key information that is easier to use while using the power of the Internet to make the more detailed information in the prospectus available to you at all times.† You would still be able to get the prospectus in paper by asking for it.
The Commission wants to know your views on the proposals.† In addition, the Commission wants to know your views regarding the mutual fund prospectuses that you currently receive.
How Investors Can Submit Comments
Comments may be submitted by any of the following methods:
All submissions should refer to File Number S7-28-07. This file number should be included on the subject line if e-mail is used.† To help us process and review your comments more efficiently, please use only one method.
The Commission will post all comments on the Commissionís Internet Web site (http://www.sec.govs/comments/s7-28-07/s72807.shtml).† Comments are also available for public inspection and copying in the Commissionís Public Reference Room, 100 F Street, NE, Washington, DC 20549, on official business days between the hours of 10:00 am and 3:00 pm.† All comments received will be posted without change; we do not edit personal identifying information from submissions.† You should submit only information that you wish to make available publicly.
Public comments on these proposed rule changes should be received by the Commission on or before February 28, 2008.
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The full text of the detailed release concerning these proposed rule changes has been posted to the SEC Web site.