Series 24: Mutual Fund Prospectus Rules

Taken from our Series 24 Online Guide

Mutual Fund Prospectus Rules

Because mutual funds shares are issued new for each shareholder, all must be sold with a prospectus. The prospectus must be delivered prior to the point at which the customer acquires an interest in the fund, and it must be up-to-date. The SEC does not permit prospectuses that are in use for more than 9 months to have financial information in them that is more than 16 months old.

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