SEC Greenlights Prospectus Proposal
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Wednesday, November 19, 2008

SEC Greenlights Prospectus Proposal

Get the summary prospectuses ready. The SEC on Wednesday voted unanimously to require fund firms to provide summary prospectuses in a clear, concise manner, Reuters reports.

"This is good for investors and will aid their decision making," the wire service quoted SEC commissioner Luis Aguilar as saying during the Wednesday morning meeting.

The SEC is requiring fund firms to include information such as the fund's objectives, strategies, risks and costs at the front of the statutory prospectus.

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