Partner Mark Parise was quoted in a Fund Directions article that discussed how US Securities and Exchange Commission (SEC) rule changes designed to make tailored shareholder reports more useful to retail investors are turning out to be more expensive and difficult to implement than most fund compliance officers expected.
“The SEC is saying: ‘We think that shareholders will get value by having a fund compared to that broad domestic or international equity or domestic or international debt market, on a very large scale,’” said Mark. Regarding the tailored aspect of the new reports, Mark adds: “I imagine we’ll see everyone will come out with their first stab at it; people will look at what everyone else is doing and then start modifying their approach.”
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