SIFMA questions some aspects of SEC's simplified-prospectus proposal

03/10/2008 | InvestmentNews (free registration)

Mutual fund companies and brokers are enthusiastic about a proposal to simplify fund prospectuses, however, they are wary of filing quarterly performance reports and holding updates, according to public comments filed with the SEC. In a joint letter to the SEC, SIFMA and the ICI argued such requirements would create "substantial administrative and operational burdens and costs" for funds and fund distributors.

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