New and improved shareholder reports coming?

According to Mutual Fund Wire, new rules could be coming down the road to simplify fund annual reports:

“One of the higher priorities inside my division right now is we're engaged in a process very similar to what we did with the summary prospectus," Donohue told the audience Tuesday morning. This time, the focus is on annual and semi-annual reports to shareholders.

Back in the late 1990s, of course, the SEC implemented “
plain English” rules for fund prospectuses. While some companies clearly have a different definition of plain English than mine, anyone who remembers what prospectuses used to look like will agree that most are vastly better.

If down the road you need some help drafting “plain English” sections of shareholder reports (ever tried to read the accounting pages?), you’ll want to work with
a capable writer with a thorough understanding of the fund industry.

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