Mutual Funds

"Today’s proposed amendments to the Commission’s liquidity management and swing pricing rules resemble less a series of regulatory initiatives than an essay on Greek tragedy"

"The proposal would require all funds to determine and maintain a minimum amount of highly liquid assets, which can help funds better meet investor redemptions. ...

"The Commission’s actions today will make the information provided on Form N-PX easier to understand, and will also facilitate comparisons across funds"

"These proposals, if adopted, would dramatically alter how investors buy and sell fund shares. The proposals potentially reduce investor choice, and come with significant compliance ...

"I have other concerns, including the overlap between our amended investment company advertising rules and FINRA’s communications rules, but I think you get the point ...

"Shareholder reports will include a simplified expense presentation – a table showing the expenses associated with a hypothetical $10,000 investment in the fund during the ...

"Modernizing disclosures goes to the heart of the Commission’s mission to protect investors. Today’s release does exactly that"

"Today’s final rules would require fund companies to share a concise set of materials that get to the heart of the matter"

"I support today’s amendments, although I agree with Commissioner Peirce that the Commission should address concerns regarding the disclosure requirements related to acquired fund fees ...

The rule also allows boards to name a “valuation designee,” and often this will be the fund’s investment adviser