On the recordApril 3, 2000
One of the most important changes in America in the last couple of decades has been the tremendous expansion of direct ownership by individuals of America's businesses. More people than ever now have a direct stake in the profitability of American companies. In fact, 80 million Americans own stocks. Some of those 80 million own stocks in individuals companies, and many others own shares in mutual funds. Those 80 million shareholders represent half of America's households. More and more Americans are utilizing mutual funds because of the ease of investing and for the diversification that they provide. Investors have done well in recent years in most mutual funds. But there is a major category of critical information that investors have not had access to in the past and generally do not have access to now. I originally introduced this legislation 2 years ago to assure that investors could obtain access to that information.
Source
govinfo.gov
