Grading the use of plain English in firms’ disclosures of SEC disciplinary actions

BY CARL AYERS — IA Week, a publication of IA Watch It’s up to you to decide whether a disciplinary action is material enough to alert your clients (IA Watch, June 6, 2011). Following a widespread enforcement settlement with numerous advisers last September for short sale violations (IA Watch, Sept. 23, 2013), the advisers moved almost immediately to revise their Form ADVs. Some were more accomplished in their disclosures than others, according to Deborah Bosley of the Plain Language Group Read more […]

SEC Proposes Limits On Funds’ ‘Ongoing Sales Charges’

By Fawn Johnson, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The U.S. Securities and Exchange Commission is set to approve a new proposal Wednesday to limit ongoing sales charges from mutual funds and require them to disclose that certain fees charged to investors are for marketing purposes. The proposal would restrict ongoing sales charges to “the highest fee charged by the fund for shares that have no ongoing sales charge,” according to an SEC summary. “For example, if one Read more […]