SEC Adopts Streamlined Shareholder Reports for Mutual Funds and ETFs; Fee Information in Fund Advertisements

November 3, 2022
1 minutes

On October 26, 2022, the SEC unanimously adopted a release (the “Release”) containing rule and form amendments to require open-end funds to transmit “concise and visually engaging annual and semi-annual reports to shareholders” that highlight key information deemed “particularly important for retail investors to assess and monitor their fund investments.” Other information, including financial statements, will no longer appear in funds’ shareholder reports but, instead, must be available online, delivered free of charge upon request and filed on a semi-annual basis on Form N-CSR. 

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