The first wave of privacy disclosures are appearing in mutual fund prospectuses and first quarter 2000 account statements being mailed to fund investors.

While some fund groups are early to comply with the new SEC privacy disclosure regulation which goes into effect July 1, others are still developing the text for explaining to prospective and existing shareholders how the firms obtain personal information about them and what they do with it once it is collected. Regulators want to be sure investors understand if any personal information is likely to be shared with third-parties, and if so, with whom.

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