SEC Finalizes Summary Prospectus Requirements for Mutual Funds


The SEC finalized a rule requiring mutual funds to provide investors with a concise summary of the key information they need to make informed investment decisions. The new summary prospectus will appear at the front of a fund’s prospectus. The SEC also approved a new rule that permits sending a summary prospectus to satisfy prospectus delivery requirements provided that the mutual fund’s summary prospectus, statutory prospectus, and other specified information are available online. The rule changes are effective Feb. 28, 2009, and funds must begin complying with the form changes on Jan. 1, 2010. The full text of the SEC’s final rules is available at www.sec.gov/rules/final.shtml.

Where to find May’s flipbook issue

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SPONSORED REPORT

Implementing lease accounting

FASB’s Codification (ASC) 842, Leases, requires companies to make significant changes in the way they report operating leases. But one of the initial challenges might be simpler than you think … find out more with this report.