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Print this pageMSRB Proposal Requires Fund Ads to Direct Investors to Recent Performance Information
Washington, DC, July 8, 2005 - The SEC is seeking public comment on a Municipal Securities Rulemaking Board (MSRB) proposal that would require advertisements that contain performance data for municipal fund securities to provide investors with access to the most recent performance information.
Background
Specifically, the MSRB proposal would require brokers, dealers, and
municipal securities dealers to include in their advertisements a
website or toll-free phone number where investors can obtain the
most recent month-end performance information. If adopted, the new
requirement would apply to ads containing performance data that are
published on or after December 1, 2005.
ICI Position
The Institute will likely comment on the proposal by the July 21,
2005 comment deadline. Overall, the Institute supports efforts to
improve disclosure in order to help investors make informed
investment decisions. ICI also has
supported efforts to increase consistency between MSRB and SEC
mutual fund performance advertising rules.
Related Links
A section of this website is devoted to disclosure of
mutual fund performance, advertising, and marketing.
