Advertising Mutual Fund Returns: A Critical Analysis of a U.S. Securities and Exchange Commission Proposal to Change Advertising Law

Abstract

The Mutual Fund Tax Awareness Act of 1999 was introduced in the U.S. House of Representatives for the expressed purpose of requiring the U.S. Securities and Exchange Commission to change mutual fund disclosure and advertising law to better inform investors of the tax implications of various mutual funds. The Commission's proposed change in advertising law has inadequately addressed this congressional mandate and may lead investors to make poorer, not better, decisions.

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