Thank you, Chairman Cox. Good morning Commissioners Casey, Walter, Aguilar, and Paredes.
Before I turn the mike over to my staff to present the Division’s recommendation, I would like to convey my gratitude to all those responsible for bringing this rulemaking effort to successful conclusion. First, I want to express my appreciation to the Investment Company Institute and its working group members for their efforts on the initial list of tags for the risk/return summary. I also want to express my appreciation to XBRL U.S. for its continuing efforts on the list of tags for the risk/return summary and for portfolio holdings.
I’d also like to acknowledge the responsible Division staff who worked on the release Brent Fields, Mark Berman, Tara Buckley, Debbie Skeens, and Alberto Zapata. This group had help from others throughout the Commission, including David Blaszkowsky, Linda Lee, and Jeff Naumann, of the Office of Interactive Disclosure, Mauri Osheroff, and Mark Green of the Division of Corporation Finance, Lori Price and Vince Meehan of the Office of the General Counsel, and Chuck Dale and Lori Walsh of the Office of Economic Analysis. Additionally, I would like to thank the Commission and Commission counsel for their thoughtful comments and suggestions. I also would like to recognize you, Chairman Cox, for your vision and commitment in bringing this rule to fruition. Because of your support of interactive data, mutual fund investors and all consumers of mutual fund information will have access to data that will no longer be confined to paper prospectuses. They will instead be able to take advantage of advanced technology to aid them in the comparisons and analysis that the Commission encourages be made before investors buy and sell mutual funds.
I would now like to hand over the presentation to Alberto Zapata, Senior Counsel in the Division, for a description of our recommendation.