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Article: Week in Review.(Securities and Exchange Commission to force mutual funds to disclose fees and performance)(hedge funds in Cayman Islands)(Evergreen Security investors to recover money)
- Article from:
- Money Management Executive
- Article date:
- April 16, 2007
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SEC May Require Funds to Disclose Fees in Dollars
The Securities and Exchange Commission is considering forcing mutual funds to disclose fees and performance as simple numbers, SEC Chairman Christopher Cox told the Los Angeles Times.
Funds should report "one simple number that captures fees and expenses," he said, noting that the information is typically buried in fund prospectuses.
"It's our top regulatory priority," he said. "There are always technical concerns raised by someone, but the truth is that apples-to-apples comparisons are quite useful for consumers. The same should be possible for our retirement savings."
SEC Commissioner ...