BOSTON - In a study examining mutual fund fees, the General Accounting Office has criticized the mutual fund industry and the SEC for not monitoring fees more closely, according to Geoff Bobroff, president of Bobroff Consulting, of East Greenwich, R.I.

The GAO "takes a swipe" at the SEC and the mutual fund industry for not monitoring fees in relation to funds' economies of scale, Bobroff said. He learned of the GAO's criticisms through sources familiar with the study, Bobroff said. Bobroff spoke at an industry conference here last week.

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