SEC Declares 'War' on Fund Complexity

Securities and Exchange Commission Chairman Christopher Cox implored the mutual fund industry Thursday to quickly join the "war against complexity" and improve the information investors rely on to evaluate their funds by making it interactive and easier to understand.

As the keynote speaker at the Investment Company Institute's 49th annual general membership meeting, Cox said the ICI, the fund industry's trade association, was playing a critical role in meeting this challenge.

"You are on the threshold of a revolution on how investors acquire data," said Cox, adding that the SEC was also taking steps to improve the information it offers. "The goal is to make mutual fund comparisons easier for investors." ...