While the
Securities and Exchange Commission Chairman said Tuesday the agency will seek the opinions of the nations 91 million mutual fund investors over the next 60 days on what ideal point-of-sale and trade-confirmation reports should look like for broker-sold funds, Dow Jones reports.
"Were going to make it very, very easy for investors to comment," Susan Wyderko, director of the SECs office of investor education and assistance, told Dow Jones. "Weve never done this before."
On
While little known, the SEC has held focus groups before, going back five and six years ago when it began market-testing "streamlined" prospectuses.
Shock Ahead
"They are going to be shocked that this is going on," said John Markese, president of the
As is always the case, the SEC is also seeking industry input.