A proposed shorter disclosure document for Canadian mutual fund investors is an improvement over earlier forms, but needs to be made even simpler, industry officials say.

The Investment Funds Institute of Canada (IFIC) is trying to convince securities regulators to drop some of the detailed information that they are proposing to include in the fund summary. The industry is concerned about consumers becoming confused by too much information, and that the format of the new document would make compliance difficult for companies with large families of funds.

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