May 30, 2019

SEC’s Division of Corporation Finance Provides Guidance to Broker-Dealers on Delivery of Mutual Fund Prospectuses to Clients of Discretionary Investment Advisers

On April 11, 2019, the Securities and Exchange Commission’s Division of Corporation Finance (Division) provided guidance to broker-dealers with respect to delivery of mutual fund prospectuses to clients of discretionary investment advisers. The Division stated that, for purposes of Section 5(b)(2) of the Securities Act of 1933, it is of…

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