Wednesday, January 14, 2009

Final Rule Release: Enhanced Disclosure and New Prospectus Delivery Option for Investment Companies

During his January 13 keynote address at the Forum's Third Annual Directors' Institute, Andrew J. Donohue, Director of the SEC's Division of Investment Management, announced that the Division has posted the final rule release for the Summary Prospectus, a streamlined prospectus containing key information about a fund presented in a clear and concise format, coupled with access via the Internet.  

The effective date of the new rules is February 28, 2009, meaning funds may begin delivering the Summary Prospectus and providing access to their full prospectuses and SAIs via Internet after that date.  

Donohue thanked the Division's staff for their extra efforts in finalizing the release in time for him to make this announcement at the Forum's Fort Myers, Florida event. 

The final Summary Prospectus rule release is available at:

For a description and discussion of the Summary Prospectus release, see our earlier posts at:

November 18, 2008, November 19, 2008 SEC Open Meeting,

November 19, 2008, SEC Adopts Summary Prospectus,