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Rating:SEC Will Educate the Industry on New Fund Rules Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 06, 2010

SEC Will Educate the Industry on New Fund Rules

Reported by Daniel Tovrov

The Securities and Exchange Commission is holding a public seminar on June 4th on new mutual fund rules. SEC officials will discuss the new requirement that makes open-end funds file data in the risk/return summary section of the prospectus using eXtensible Business Reporting Language (XBRL).

The one day event will be held at SEC headquarters in Washington D.C. The seminar will also be webcast, as noted in a release.

Fundsters are encourage to send questions and topic ideas to Ask-OID@sec.gov. The new rules take effect January 1, 2011.
Company Press Release

Washington, D.C., May 5, 2010 Securities and Exchange Commission staff will conduct a public seminar next month to help mutual funds comply with new rules that require them to file data in the risk/return summary section of the prospectus using eXtensible Business Reporting Language (XBRL), which can provide investors with quicker access to the data they want in a format that is easily used, searched, and analyzed.

At the seminar on June 4 beginning at 10 a.m., SEC staff will discuss both the rule requirements and the XBRL taxonomy, which is the list of tags associated with the risk/return summary. The compliance date for open-end funds is Jan. 1, 2011.

To ensure that the seminar is responsive to the needs of mutual funds, the SEC staff is seeking suggested questions and topics to be discussed. Interested parties should e-mail their questions to Ask-OID@sec.gov and include "Mutual Fund Education Seminar" in the subject line.

The seminar will be held in the auditorium at the SEC's headquarters (100 F Street N.E. in Washington D.C.) and is scheduled to end at 12:30 p.m. ET. The event will be webcast live on the SEC website and also will be archived for later viewing.

Seating for the seminar will be on a first-come, first-served basis. Reasonable accommodations for persons with disabilities attending this event in person can be arranged by submitting a request to DisabilityProgramOfficer@SEC.gov three business days prior to the event. Captioning will be provided on the SEC webcast.

For additional information about the seminar, contact Ask-OID@sec.gov or (202) 551-4144.  

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