April 29, 1993
TO: SEC RULES COMMITTEE NO. 41-93
RE: MEETING TO DISCUSS RECENT AMENDMENTS TO FORM N-1A
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As we previously informed you, the SEC adopted amendments
to Form N-1A to require mutual funds (1) to disclose in their
prospectuses the name and background of the fund's portfolio
manager and (2) to include in their prospectuses or,
alternatively in their annual reports, a management's discussion
of the fund's performance and a line graph comparing the
performance of the fund to that of a broad-based securities
market index. (See Memorandum to SEC Rules Members No. 35-92,
dated April 8, 1993.)
Several Committee members have raised interpretive issues
concerning these new requirements. We have scheduled a meeting
for May 13, 1993 at 2:00 p.m. at the Institute to discuss these
issues and whether we should seek clarification from the SEC
staff on them. Please let me know if you have any issues
relating to the new disclosure requirements that you would like
us to put on the agenda for the meeting.
Please contact Laura Pawlowski at 202/955-3515 by May 10,
1993 to let her know whether you will be attending the meeting.
Amy B.R. Lancellotta
Associate Counsel