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The rule was approved under a commission controlled by Democrats, but owes its existence to a Republican, Rep. Paul Gillmor of Ohio.
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Industry Trying to Defang Law Disclosing the Tax Bite on Fund Returns
If you're concerned that the new Republican administration will mean the end of investor-friendly securities regulation, you should take heart from the Securities and Exchange Commission's recent adoption of a rule requiring that funds disclose their after-tax returns.
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In 1999, Gillmor proposed a bill to force the SEC to require mutual funds to disclose their after-tax performance. The bill was passed overwhelmingly by the Republican-controlled House of Representatives. ...
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