Joining a number of other non-financial organizations that have supported the cause, the AFL-CIO has prepared a letter for the SEC, urging better, more frequent disclosure of mutual fund holdings, according to an employee in the AFL-CIO's office of investment. The employee was not certain whether the document, which was prepared last week, had been sent.
The Consumer Federation of America of Washington, D.C. filed a petition with the SEC earlier this month seeking monthly disclosure of fund holdings. Fund Democracy LLC of Chevy Chase, Md. filed a similar petition earlier this summer. The debate had remained within the confines of the fund industry until these consumer interest groups began supporting more frequent disclosure.