ICI Comment on SEC Rule Proposals for Fund Reporting

Washington, DC, May 20, 2015—Investment Company Institute President and CEO Paul Schott Stevens made the following statement in response to a vote today by the Securities and Exchange Commission (SEC) to issue proposals on reporting by investment companies and investment advisers:

“We welcome the SEC’s efforts to modernize and enhance the data it collects from investment companies and investment advisers.  We look forward to reviewing the details of these proposals and will assist the SEC with our input through the public notice and comment process.

“Providing fund communications in ways that best meet shareholder needs and preferences has long been a priority for the industry. We therefore are very pleased that the SEC’s proposal would permit funds to provide investors with shareholder reports on their websites rather than via paper mailings.”