The U.S. Securities and Exchange Commission (SEC) is seeking more input from individual investors about their policy initiatives. To help facilitate this, the agency has created a “Tell Us” page at www.sec.gov/tell-us. On this page, you will find information about specific topics the SEC is seeking input on and links to questionnaires for providing feedback.

The page will be periodically updated, so be sure to bookmark it if you are interested in participating on an ongoing basis.

Among the initiatives currently listed (as of November 2018) is gathering opinions on whether you are getting useful information about mutual funds and other funds. The SEC wants to know what information you consider to be important when choosing a fund, whether you read the summary or full prospectus and find them useful, and how you wish to receive the fund information.

Another initiative is a proposal to improve disclosure for variable annuities and variable life insurance products. The goal would be to improve both the content provided and the way in which it is presented to investors.

The proposal would allow for a summary prospectus on such products to be provided to new investors. The initial summary prospectus would include:

• An overview of the contract;
• A table summarizing the contract’s fees, risks and other important considerations; and
• More detailed disclosures about fees, purchases, withdrawals and other contract benefits.

Existing investors would receive an updating summary prospectus that would include a brief description of certain changes made to the contract during the previous year and key information from the initial prospectus. In both cases, the documents would be accessible online and with paper copies available—at no cost—upon request.

For those of you who work with a financial adviser or a broker, the SEC wants to hear your opinion on a proposed relationship summary. This document would list the services offered, their costs, the firm’s obligation to you and certain conflicts of interest. You would also be informed about how to research the disciplinary history for the firm and the investment professional as well as how to report a problem.

Source: “Tell Us About Your Investment Experience,” Securities and Exchange Commission.