Securities and Exchange Commission: Enhanced Disclosure and New Prospectus Delivery Option for Registered Open-End Management Investment Companies
GAO-09-346R: Feb 9, 2009
- Full Report:
GAO reviewed the Securities and Exchange Commission's (SEC) new rule on enhanced disclosure and new prospectus delivery option for registered open-end management investment companies. GAO found that (1) the final rule amends the mutual fund registration form to require certain information to appear in plain English in a standardized order in a summary section at the front of the mutual fund statutory prospectus which will consist of key information about the fund, including investment objectives and strategies, risks, costs, and performance; and (2) SEC complied with the applicable requirements in promulgating the rule.