Subject: File No. S7-08-15
From: Ken Michaud

August 7, 2015

Dear Regulators,
Over the years the SEC has proposed many changes in the way Investors receive information. The limited summary prospectus gives only a brief description of a funds risk and has become more of a marketing piece highlighting funds performance. It is critical that information gets into the hands of an Investor especially when there are many that may not be able to find the information they need online. The Mutual Funds have been instrumental in lowering the bar of Investor Information to save money. In this world of deregulation it is extremely important that the Investor continues to receive Shareholder information and not be expected to retrieve it. I ask that the SEC does not enable the Funds to reduce Investor Information further. I am a member of the printing industry which has been devastated by the changes in regulations over the years. Our industry employs hundreds of thousands across the country and further easing of the regulations will hasten the demise of our industry while having a devastating effect on the USPS, transportation industry and increase the risk to Investors.