Funds may continue to use their previous, customary form instead of the “safe harbor” form, and this will satisfy the distribution requirement under the regulations but it will not provide safe harbor protection. Using a form that does not fall within the safe harbor may be open to challenge as to whether it includes all necessary information. To comply with the safe harbor but to also provide a more use friendly version, some funds distribute their customary form and attach the “safe harbor” form as an exhibit.
Each fund must distribute the annual notice to individual investors every twelve months. Usually, the fund must mail a hard copy of the notice to each investor. However, the fund may meet the distribution requirement by emailing the notice to an investor or by posting it on a fund website that the investor can access if the investor has specifically consented to receiving information electronically from the fund.
If you have any questions regarding complying with the Privacy of Consumer Financial Information rule or the new safe harbor requirements, please call Keith Kaplan at 215-569-4143 or Jon Katona at 215-569-4222.
 The policy or a link to the policy must be posted on a webpage that investors access frequently.