(Bloomberg) -- U.S. mutual fund companies are pushing back against claims that some firms may be too big to fail, saying that subjecting a few large money managers to more regulation would hurt competition and ultimately fund investors.

“New costs and new regulations applied selectively will distort the competitive landscape of our industry,” Paul Schott Stevens, president of the Investment Company Institute, the fund industry’s trade group, said in a speech today in Orlando, Florida. “The consequences of SIFI designation could significantly impair fund investing.”

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