The Securities and Exchange Commission wants investors to know more about mutual funds and their behind-the-scenes directors. And it plans to get the word out by amending proxy-disclosure rules that have not been tinkered with since their adoption 30 years ago.
The agency issued the proposed proxy changes at a public meeting last week. Simply put, the proposal would require fund companies to provide substantially more information about fees and expenses. Public comment is being sought for 60 days.