Alert August 05, 2008

SEC Reopens Comment Period on Mutual Fund Summary Prospectus Proposal

The SEC reopened the comment period on its summary prospectus proposal for mutual funds, which was discussed in detail in a December 2007 Client Alert (available at Client Alert - Summary Prospectus Proposal), in order to allow comment on the results of (a) focus group testing regarding various aspects of the proposal and (b) a telephone survey of investor views on disclosure documents.   The focus group and telephone survey results along with related documents are available at Focus Group and Survey Results.  The reopened comment period extends through August 29, 2008.  The release reopening the comment period is available at SEC Release.