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Rating:ICI Chief Calls for a Comprehensive Point-of-Sale Disclosure Plan Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 22, 2009

ICI Chief Calls for a Comprehensive Point-of-Sale Disclosure Plan

by: Armie Margaret Lee

The ICI will fight an Obama regulatory proposal on point-of-sale disclosure if it singles out mutual funds.

"We certainly want to work with the Securities and Exchange Commission and with the Financial Industry Regulatory Authority to create a sensible comprehensive point-of-sale disclosure regime," ICI president Paul Schott Stevens was quoted in a Dow Jones article as saying. "But we will strongly be opposed to singling out mutual funds among all financial products."

"It's like putting a 'skull and cross bones' warning on mutual funds," Stevens said.

It's not clear at this time whether the proposal will cover just mutual funds, or a broader array of products. 

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