SEC Proposes New Rules for Mutual Fund Disclosure

Chair Cox continues his dual quests for "plain English" disclosure and increased use of the internet, as the SEC voted to propose rule changes to improve mutual fund disclosure, requiring that all mutual fund investors receive a "clear, concise summary of key information." In addition, funds would be encouraged "to harness the power of the Internet" to allow investors to choose the format in which they receive more detailed information and to use and compare mutual fund information more effectively.  The proposed rules will be published for public comment shortly.