Commission Reopens Comment Period on Proposal to Improve Mutual Fund Disclosure

FOR IMMEDIATE RELEASE
2008-163

Washington, D.C., July 31, 2008 — The Securities and Exchange Commission announced today that it has reopened the public comment period on a proposal intended to improve mutual fund disclosure, in order to allow comments on the results of investor testing.

In November 2007, the Commission proposed rule amendments that would enable investors to view a concise, plain English summary of key facts about a mutual fund and published a prototype "summary prospectus." The proposal and the prototype "summary prospectus" are available on the Commission's Web site.

The Commission reopened the comment period for the rule proposal to provide all persons who are interested in this matter an opportunity to comment on the results of focus group testing and a telephone survey of investors. Comments on the proposal are due by Aug. 29, 2008.

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http://www.sec.gov/news/press/2008/2008-163.htm