U.S. Securities And Exchange Commission
Open Meeting Fact Sheet
MaY 21, 2008
Interactive Data for Mutual Fund Risk/Return Summary
The Commission will consider whether to propose rule amendments to require that mutual fund risk/return summary information be filed to the Commission in interactive data format. The risk/return summary includes information about a fund’s investment objectives and strategies, risks, expenses, and performance.
Under the proposal, the summary in interactive data format would be required with a fund’s initial registration statement and with any post-effective amendment to a registration statement that makes changes to the summary. A fund would also be required to post the interactive data version on its Web site, if it maintains one. The disclosure in interactive data format would supplement, but not replace or change, disclosure using the traditional electronic filing formats, ASCII or HTML.
The proposed rules would require that mutual funds provide the summary to the Commission as a new exhibit in interactive data format that would be filed as a post-effective amendment to the fund’s registration statement no later than 15 business days after the effective date of the traditional format filing.
The compliance date for the proposed rules would be Dec. 31, 2009.
In addition, the Commission will consider whether to propose rule amendments that would provide investment companies with increased flexibility to submit financial information in the Commission’s interactive data voluntary program by permitting funds to submit portfolio holdings information in interactive data format without being required to submit other financial information.