The Securities and Exchange Commission has speedily adopted a rule to permit fund companies to continue to convey sales and marketing materials electronically - particularly on websites - to prospective investors without first supplying them with a prospectus or asking for their permission to provide the prospectus in electronic form.

The SEC adopted Rule 160 on July 27 in response to passsage of the Electronic Signatures Act, which President Clinton signed into law on July 6.

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