November 28, 2022

Effective Date Set for Overhaul of Mutual Fund and ETF Disclosure Requirements

The effective date for SEC amendments designed to tailor mutual fund and ETF disclosures to the needs of retail investors will be January 24, 2023. The amendments update the standards of information required in annual and semiannual reports. The notice was published in the Federal Register.

As previously covered, the amendments (i) condense annual and semiannual shareholder reports, (ii) require funds to tag their reports using Inline XBRL-structured data language, (iii) require funds to make more relevant and in-depth financial information available to investors electronically and free of charge and (iv) mandate that company fee and expense information in advertisements and sales literature be consistent with prospectus fee table presentations.

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