The SEC issued a release reopening the comment period on proposed amendments (the “Proposed Amendments”) to Rule 482 under the Securities Act of 1933, as amended, and Rule 34b-1 under the Investment Company Act of 1940, as amended, that are designed primarily to provide potential investors with additional information about target date funds (“TDFs”). (The Proposed Amendments were described in the June 29, 2010 Financial Services Alert.) The SEC is reopening the comment period to solicit public comment on a recommendation of the SEC’s Investor Advisory Committee (the “Committee”) that the SEC develop a glide path illustration for TDFs that is based on a standardized measure of fund risk as a replacement for, or supplement to, the SEC’s proposed asset allocation glide path. (The Committee’s recommendations were discussed in the April 23, 2013 Financial Services Alert.)
The reopened comment period extends for 60 days after the release’s publication in the Federal Register.