March 28, 1990
TO: SEC RULES COMMITTEE NO. 19-90
RE: LETTER TO STAFF CONCERNING STREAMLINING OF
PROSPECTUS DISCLOSURE
__________________________________________________________
AT the CCH-FBA Mutual Funds Conference last week, Kathie
McGrath stated that no funds have streamlined their prospectus
disclosure in response to the staff's recommendation to consider
doing so in its industry comment letter dated January 11, 1990.
Attached is a letter from the Institute to Ms. McGrath responding
to her statement.
The letter notes that several funds have, in fact,
streamlined their prospectuses in those areas suggested by the
staff, while other funds are currently reviewing their
prospectuses with the intention of amending them next year. Our
letter further states that the Institute has formed an ad hoc
committee to review existing disclosure requirements and to
develop a proposal for the staff on this matter.
Amy B. Rosenblum
Assistant General Counsel
Attachment