WASHINGTON -- Advisors who have been frustrated by the byzantine language found in mutual fund prospectuses might have a friend in the SEC.
Norm Champ, the director of the SEC's Division of Investment Management, says the commission is expecting fund managers to write their prospectuses in plain English, strip out the jargon, and offer summaries that give advisors and investors a "clear and concise" picture of the investment strategy behind the fund.
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