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Prospectus and SAI
Senate Sends Letter to the SEC on Data Security
June 21, 2011
In a letter to SEC Chair Mary Schapiro, five Democratic members of the Senate Committee on Commerce, Science & Transportation asked the SEC to issue interpretive guidance regarding disclosure of information security risk, including material network breaches. The Commission, with its authority to protect… read more
Federal District Court Hands Fund Prospectus Liability Win
June 16, 2011
The US District Court for the Southern District of New York dismissed a class action suit brought by plaintiffs alleging that risks associated with the fund's investments in mortgage backed securities were not adequately disclosed in the fund's prospectus. Arising out of the decline in… read more
Wells Fargo Fined for Tardy Fund Prospectuses
May 12, 2011
Last week FINRA announced that it has imposed a $1 million fine on Wells Fargo Advisors, LLC of St. Louis for its "failure to deliver prospectuses in a timely manner to customers who purchased mutual funds in 2009, and for delays in reporting material information about its… read more
XBRL Reporting for Fund Risk/Return Summaries on Horizon
November 19, 2010
Starting in 2011, mutual funds will be required to provide the risk/return summary sections of their prospectuses to the Commission and on their web sites in eXtensible Business Reporting Language ("XBRL") format. In particular, the rules require all mutual funds to submit interactive data (computer readable… read more
SEC Files “Friend of the Court” Brief in Janus Case
November 18, 2010
As expected, the Securities and Exchange Commission has filed an amicus ("friend of the court") brief with the U.S. Supreme Court in the Janus Capital Group v. First Derivative Traders case. The Janus case is a class action law suit against Janus Capital Group and Janus… read more