The
The shorter, summary version is intended to contain key information such as investment objectives, risk and return, costs and strategies, and be written in plain English.
In lieu of the longer printed version, a complete version will be available to investors on the Internet in a layered format that gets more specific depending on where you click. A full-length, printed version will be available to investors on demand, but won’t be sent to everyone automatically.
Proponents of this proposal say this move should save millions of dollars in printing and shipping fees for the lengthy, complicated documents that are largely ignored by consumers.
“This proposal is a giant step forward for investors,” said SEC Chairman Christopher Cox. “2008 will be a watershed year for interactive data.”
The
The SEC will review public comments on the proposal before making its final decision.