NEW YORK - The after-tax disclosure regulations that were recently adopted by the Securities and Exchange Commission have several major flaws which will potentially hurt, not help, fund shareholders, according to Matthew Fink, president of the Investment Company Institute, who spoke here last week.

In a Jan. 24 letter to the SEC, the ICI requested that the commission voluntarily participate in the regulatory review plan announced by the new administration on Jan. 20 with regard to after-tax return disclosure. The review would put the regulations on hold for 60 days. The SEC, independent of the White House, is not obliged to participate in the review, however, and will not do so, since the new regulations were adopted on Jan. 19, before the regulatory review was announced, according to Fink.

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