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The comments came in a letter from ICI President Matthew Fink to the U.S. House of Representatives chairman of the financial services committee and to the chairman of the House subcommittee on capital markets, as well as to SEC Chairman Harvey Pitt and NASD Chairman Robert Glauber.
"The industry strongly supports tough regulation of sales practices involving mutual funds and will cooperate fully in the investigation on behalf of its 95 million shareholders," Fink wrote, according to a release the ICI issued today.
