Understanding mutual fund statements should be a heck of a lot easier now that federal regulators have okayed new disclosure rules that would spell out more clearly the fees imposed on shareholders.

The SEC recently adopted a series of amendments that aim to clear up the confusion surrounding fund costs, portfolio holdings and investment performance. The new rules come at a time when investor confidence is decidedly shaken as a result of the wave of impropriety that has been uncovered at some of the nation's top fund shops.

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