Thursday, November 29, 2007
The SEC published a prototype "summary prospectus" for mutual funds, and asked for public comment from investors. The proposed streamlined prospectus would let investors quickly learn key information about a mutual fund. The Commission voted on November 15 to propose rule amendments that would enable investors to view a concise, plain English summary of key facts about a mutual fund.
During the comment period, the Commission is seeking investor input about what improvements would make the summary prospectus easier to read and understand, and what key information investors would like to see included. The Commission also is seeking comment on its proposal for mutual funds to provide investors the summary information while making the full prospectus available online or in paper copy upon request.