FOR IMMEDIATE RELEASE
2018-92
Washington D.C., May 23, 2018 —
The Securities and Exchange Commission today proposed rules and amendments that would promote research on
mutual funds, exchange‑traded funds, registered closed-end funds,
business development companies, and similar covered investment
funds.
The
proposal would reduce obstacles to providing research on investment
funds by harmonizing the treatment of such research with research on
other public entities.
"The
proposed changes are intended to provide investors with greater access
to research to aid them in making investment decisions," said SEC
Chairman Jay Clayton. "This congressional mandate recognizes the
critical role that mutual funds and similar investment products play in
helping Main Street investors meet their financial goals."
If
adopted, the proposal would generally establish a safe harbor for a
broker or dealer to publish or distribute research reports on investment
funds under certain conditions. This proposed safe harbor is
similar to a regulatory safe harbor that currently exists for research
reports about other public entities.
The Commission took this action in furtherance of the mandate of the Fair Access to Investment Research Act of 2017 (FAIR Act).
The public comment period will remain open for 30 days following publication of the proposing release in the Federal Register.