Sage Journals: Discover world-class research

Abstract

The Mutual Fund Tax Awareness Act of 1999 was introduced in the U.S. House of Representatives for the expressed purpose of requiring the U.S. Securities and Exchange Commission to change mutual fund disclosure and advertising law to better inform investors of the tax implications of various mutual funds. The Commission's proposed change in advertising law has inadequately addressed this congressional mandate and may lead investors to make poorer, not better, decisions.

Get full access to this article

View all access options for this article.

References

Barclay

M.J.

, Pearson

N.D.

, and Weisbach

M.S.

(1998), “Open-End Mutual Funds and Capital Gains Taxes,” Journal of Financial Economics, 49(2), 3–43.

Brill Editorial Services (1999), (accessed June 2000), [available at http://www.fundsinteractive.com/features/crz07991.html].

Dreyfus Service Corporation (1999), Dreyfus 1999 Tax Informed Investors Study, (accessed June 2000), [available at http://www.dreyfus.com].

Geer

J.F.

(1997), “Brand War on Wall Street,” Financial World, 166(5), 54–63.

Investment Company Institute (1999), The Mutual Fund Factbook. Washington, DC: Investment Company Institute.

Levitt

(1998), remarks before the Investment Company Institute, U.S. Securities and Exchange Commission, (May 15).

Mutual Fund Market News (2000), “Industry Ad Spending in the Last Year,” (April 17), 1–3.

The Wall Street Journal (1999), “How the Taxman Dines on Your Fund,” (August 31), C1.

Advertising Mutual Fund Returns: A Critical Analysis of a U.S. Securities and Exchange Commission Proposal to Change Advertising Law

Abstract

Get full access to this article

References