Mutual fund companies and registered investment advisors need to do more to monitor the accuracy of the information on their websites, according to a top SEC official.

SEC examiners are finding inaccuracies in performance advertising claims and omissions of important information on fund and advisor websites, said Lori Richards, director of the SEC's office of compliance, inspections and examinations. SEC examiners find in some instances that websites include information that has not been cleared with advertising regulators at NASD Regulation, Richards said. She did not identify any firms by name or the frequency of problem website postings.

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