The SEC is unlikely to establish a standardized mutual fund risk measure, in part because individual investors have different ways of looking at risk, Barry Barbash, director, division of investment management, said. But the SEC might favor more statistical risk information in prospectuses or statements of additional information, he said.
Speaking today at a conference of the ICI Education Foundation and the Federal Bar Association, Mr. Barbash also said the agency supports a division between itself and states in oversight of registered investment advisers.
He said the agency also wants more uniformity of regulation of small advisers by the states. The SEC also might look at reforming Rule 12(b)1, which governs disclosure of fund distribution fees.