Mutual Funds Singled Out in Proposal

Government regulation generally is put in place when there has been some sort of abuse. My perusal of the news hasn't indicated to me there have been any sort of abuses or large scale legitimate complaints about mutual funds so why is this politician wanting to change the rules. If the real target is hedge funds, those are a whole different animal so aim your regulations at the hedge fund industry.

As an investor, I don't want to wait until I get a prospectus before investing in a fund. In the day and age of computers, I can get all the information I need about a prospective fund investment on the computer before I make a decision. I would wager 99.9% of investors don't read the prospectus even when they receive it so, to me, this is a useless and unwanted piece of bureaucrasy.

Perhaps those who are pushing this legislation have an ulterior motive??

Julie of TX 4:45PM November 06, 2009