SEC. 918. STUDY REGARDING MUTUAL FUND ADVERTISING.
(a) IN GENERAL.—The Comptroller General of the United States
shall conduct a study on mutual fund advertising to identify—
(1) existing and proposed regulatory requirements for openend
investment company advertisements;
(2) current marketing practices for the sale of open-end
investment company shares, including the use of past performance
data, funds that have merged, and incubator funds;
(3) the impact of such advertising on consumers; and
(4) recommendations to improve investor protections in
mutual fund advertising and additional information necessary
to ensure that investors can make informed financial decisions
when purchasing shares.
(b) REPORT.—Not later than 18 months after the date of enactment
of this Act, the Comptroller General of the United States
shall submit a report on the results of the study conducted under
subsection (a) to—
(1) the Committee on Banking, Housing, and Urban Affairs
of the United States Senate; and
(2) the Committee on Financial Services of the House of
Representatives.