A Securities and Exchange Commission rule initiative that was strongly criticized by consumer groups several years ago when it was first suggested has reappeared on the SEC's docket as part of an impending rule proposal expected by June 28.

The part of the impending proposal that elicited strong criticism aims to streamline disclosure of portfolio holdings, according to Barry P. Barbash, a partner with the law firm of Shearman & Sterling of Washington D.C. and a former SEC official.

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