The Securities and Exchange Commission recently released mutual fund guidance that advises registrants to reduce the length of the summary disclosure to three to four pages, and to use “plain English” to explain disclosures.
Meanwhile, the long-awaited release of a formal SEC proposal regarding a variable annuity summary prospectus has been pushed off once again. The agency’s regulatory agenda said the scheduled September release date of such a proposal has been pushed to March.
Originally published on ThinkAdvisor. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.