The Securities and Exchange Commission is looking into whether mutual funds do their part to collect shareholders' money from class-action lawsuits, Lori Richards, director of the SEC's compliance inspections and examinations, told Reuters. Principally concerned with the methods investment advisors use to evaluate whether or not to file for a settlement, the Commission could reveal its findings in a month, she said, speaking at a mutual fund conference in Washington.

Last month, the SEC released monetary distribution details for how individual investors and mutual funds can claim their $432.75 million share of the $1.4 billion Wall Street research settlement. The remainder of the settlement will go to individual states, pay for investor education programs and cover the cost of providing independent research at the sanctioned firms.

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