smart spending

Dodd-Frank: financial regulation in neutral

Presale disclosures by brokers and dealers
Presale disclosures by brokers and dealers

Would you buy a car if you could only get key information about its mileage, horsepower and warranty from a dealer three days after you bought it? That may seem ridiculous, but that's how many people now buy shares in mutual funds and other investments. In many cases, investors buy the fund and then receive the prospectus, which holds most of the pertinent information on the firm's holdings.

Dodd-Frank aims to fix that pattern by authorizing the SEC to require presale disclosures by brokers and dealers to retail investors, including for mutual funds, Barr says. Those changes to financial regulation haven't been proposed.

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