SEC proposes improved mutual fund disclosure

The US Securities and Exchange Commission (SEC) is proposing rule changes for sending or giving key information to investors in the form of a "summary prospectus" and providing the summary prospectus, statutory prospectus, shareholder reports and other information on an Internet website in a format that enhances investors' ability to effectively use the more detailed information in those documents. In addition, the information would be provided in paper to any investor who prefers to review more detailed information in that format. The proposal is intended to take advantage of technological developments and the expanded use of the Internet in order to provide investors with information that is easier to use and more readily accessible, while retaining the comprehensive quality of the information that is available to investors today. (View the SEC Press Release.)