SECURITIES

SEC to Unveil Steps to Simplify Mutual Fund Prospectuses: Securities and Exchange Commission Chairman Arthur Levitt, as reported, will also announce today a public education program designed to promote greater understanding by the public of the risks and rewards of personal investing. As part of the program, the SEC will publish a brochure outlining the important sections to read in mutual fund prospectuses, the documents used to describe funds’ objectives and risks. The material will describe some of the risks, an SEC spokesman said. Officials declined to comment on the specific steps that will be taken to simplify fund prospectuses. But Levitt has said in the past that he wants to reduce the amount of legalese.