The investment company industry takes very seriously all issues concerning the use and protection of shareholders' personal information.
The Institute strongly supports the disclosure requirements included in the Gramm-Leach-Bliley Act. The approach taken in the Act strikes an appropriate balance between the protection of consumer privacy and legitimate information sharing necessary to serve shareholder interests. It requires all financial services firms to inform customers about the use of personal information and allows consumers to decline to share their personal information with unaffiliated third parties. The Institute opposes efforts to establish separate laws and rules governing privacy, and works instead to ensure that privacy policies applicable to investment companies are uniform throughout the United States.
