The NASD plans to release a report today calling for a Web-based "Profile Plus," which the Securities Industry Association will endorse in a letter to the SEC, also today, The Wall Street Journal reports.

The new two-page report - a development from the "Prospectus Profile" that the SEC first proposed in the late 1990s - is designed to clearly enumerate the most important things an investor should consider before selecting a fund: its total costs, strategy, risk, performance and a brokerage's potential sales conflicts of interest. Embedded in the "Profile Plus" would be links to further information, such as prospectuses and statements of additional information.

While the SEC is currently seeking comments on its proposed point-of-sale disclosure, the NASD believes this is an improvement over a paper-based form. Providing the information on the Internet is "simply better than more piles of paper," commented NASD Chairman Robert Glauber. Glauber is also head of the NASD's disclosure task force of mutual fund and brokerage executives.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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