[Federal Register Volume 60, Number 124 (Wednesday, June 28, 1995)]
[Proposed Rules]
[Pages 33374-33375]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15797]



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[[Page 33375]]

SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 239, 270, and 274

[Release Nos. 33-7181; 34-35881; IC-21157; File No. S7-10-95]
RIN 3235-AG43


Improving Descriptions of Risk by Mutual Funds and Other 
Investment Companies--Extension of Comment Period

AGENCY: Securities and Exchange Commission.

ACTION: Concept release and request for comments; extension of comment 
period.

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SUMMARY: The Commission is extending from July 7, 1995, to July 28, 
1995, the comment period for Investment Company Act Release No. 20974, 
which sought comments and suggestions on how to improve the 
descriptions of risk provided to investors by mutual funds and other 
management investment companies.

DATES: The SEC requests comments on or before July 28, 1995.

ADDRESSES: Three copies of your comments should be submitted to 
Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 
Fifth Street, N.W., Washington, D.C. 20549. All comment letters should 
refer to File No. S7-10-95. All comments received will be available for 
public inspection and copying in the SEC's Public Reference Room, 450 
Fifth Street NW., Washington, D.C. 20549. If you are an individual 
investor and do not have access to a copier machine, you may send in 
one copy of your comments.

FOR FURTHER INFORMATION CONTACT:
Roseanne Harford, Senior Counsel, (202) 942-0689, Division of 
Investment Management.

SUPPLEMENTARY INFORMATION: On March 29, 1995, the Commission issued 
Investment Company Act Release No. 20974 [60 FR 17172 (Apr. 4, 1995)] 
(``Release No. 20974''), which sought comments and suggestions on how 
to improve the descriptions of risk provided to investors by mutual 
funds and other management investment companies. In order to encourage 
individual investor comments and suggestions, the SEC included in 
Release No. 20974 an appendix directed to investors (``Investor 
Summary''), to be reprinted separately and distributed to investors.
    Recently, the Commission was notified by an investment adviser that 
the adviser proposed to distribute the Investor Summary to shareholders 
of its funds in late June. In order to permit these investors a 
reasonable period to submit their comments, and in light of the 
importance of investment company risk disclosure and of investor 
comments on this subject, the Commission believes a 21-day extension is 
appropriate.
    The comment period for responding to Release No. 20974 is extended 
to July 28, 1995.

    Dated: June 22, 1995.
    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-15797 Filed 6-27-94; 8:45 am]
BILLING CODE 8010-01-M