The Securities and Exchange Commission unanimously approved a proposal Thursday to improve mutual fund disclosures by requiring fund companies to send short-form prospectuses to investors instead of longer, bulky paper prospectuses.

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.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.