The Securities and Exchange Commission is considering forcing mutual funds to disclose fees and performance as simple numbers, SEC Chairman Christopher Cox told the Los Angeles Times in an interview. Funds should report “one simple number that captures fees and expenses,” he said, noting that the information is typically buried in fund prospectuses.
“It’s our top regulatory priority,” he said. “There are always technical concerns raised by someone, but the truth is that apples-to-apples comparisons are quite useful for consumers. The same should be possible for our retirement savings.”