WASHINGTON, D.C. - Market volatility has quickly diminished some funds' returns and may require those funds to advertise more recent performance data than that of the most recent quarter's, said Doug Scheidt, associate director of the division of investment management of the Securities and Exchange Commission.

The SEC is concerned because funds may be complying with rule 482 of the Securities Act of 1933, which sets the standards for performance advertising, and still not be complying with other SEC regulations, Scheidt said.

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