Rep. Oxley Seeks College Plan Disclosure
Rep. Michael G. Oxley (R-Ohio) wants the Securities and Exchange Commission to consider changes in operations of state-run college savings plans, including better disclosure of fees, investment strategies and performance.
Oxley also suggested in a letter to SEC Chairman William H. Donaldson that states offer the same break on taxes whether a person invests in his state’s plan or another state’s plan.
“Without adequate transparency and uniform treatment, the benefits of robust competition will not be realized,” Oxley, chairman of the House Financial Services Committee, wrote in a Thursday letter to Donaldson. The letter was released Monday.
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