At an SEC open meeting, Commissioner Roel Campos spoke about the SEC's mutual fund interactive data initiative. He noted that the ICI developed the risk/return summary information taxonomy of the XBRL program, which is the lynchpin of the project.
He noted that making key risk/return information more accessible to the public is a critical step towards achieving this greater transparency and accessibility. He also stated that he hopes that the SEC will soon adopt a short-form prospectus proposal that will lay out for fund investors in one or two pages the most critical points of investment-related information.
Please click http://www.sec.gov/news/speech/2007/spch062007rcc-2.htm to access a copy of the speech.