The level of education surrounding mutual funds and ETFs should not be outpaced by innovation, fund managers say, responding to a recent speech by the SEC's Norm Champ on the regulator's efforts to provide more guidance to investment managers and oversight of products.

"My staff has joined up with ... examiners in an ongoing nationwide initiative to review distribution fees and practices," Champ stated in a speech delivered at the Investment Company Institute's Mutual Fund and Investment Management Conference in Orlando, Fla., last week.

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