Shorter Prospectuses May Be Coming

The SEC will announce a proposal as the first agenda item at its open meeting on November 15 that would allow mutual fund companies to provide a “short-form” prospectus of as little as two pages to potential investors. The Commission’s intent is to “improve mutual fund disclosure” by having companies provide a “summary prospectus containing key information in plain English,” with more detailed prospectus information available to investors on the Web, according to the SEC.