The Securities and Exchange Commission (SEC) is requesting an extension from the Office of Management and Budget for a rule that permits certain investment funds to send just one prospectus to multiple investors living at the same address. This rule, known as Rule 154, is intended to reduce unnecessary duplicate mailings. The SEC estimates that about 530 mutual fund series comply with this rule by obtaining written consent from investors, while others don't use it due to costs or electronic delivery options. The SEC is gathering public comments on this request until January 6, 2025, to determine if the extension should be granted.
Simple Explanation
The SEC wants to keep a rule that lets certain investment funds mail just one brochure to people living at the same address, instead of sending lots of them. This helps save money and paper, and they're asking people what they think about this idea until January 6, 2025.