SEC Chairman: Cut the Gobbledygook!

In testimony last week before the House Small Business Committee, Christopher Cox, Chairman of the Securities and Exchange Commission, explained how cutting out legalese from government documents and required disclosures is good for business. Chairman Cox discussed the SEC's recent proposal for plain English summary prospectuses for mutual funds. He also supported a bill now before Congress, the "Plain Language in Government Communications Act of 2007," which would require the use of plain language in any new or revised document issued by a federal agency.