Reliance on prospectuses and other disclosures by an unconstrained mutual fund that in all material respects complies with the Company Act may be insufficient to protect retail investors.
Source quote, verbatim
a reliance on prospectuses and other disclosures by a UMF that in all material respects complies with the Company Act may be insufficient to protect retail investors.
Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729
Holds when
unconstrained mutual funds in full compliance with the Company Act
retail investors relying on prospectus disclosure
Classification
failuresupport: arguedfailure: Compliant disclosure that still fails to informfamily: disclosure-ineffectivenessdisclosuresecurities-law
Verify
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