The financial turmoil in the markets is far from over, and mutual fund firms can expect assets to continue to decline further, investors to remain skittish, and regulators to be reactive well into 2009, experts say.

"From a distribution standpoint, a lot of changes are expected in 2009," said Peter Delano, research area director for the research and advisory services firm TowerGroup during a webinar last week titled "Preparing for 2009 and Beyond: Expected Fallout on the Mutual Fund Industry."

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