BOSTON-The SEC is concerned that increasing competitive pressures the mutual fund industry faces could lead it to engage in misleading or overly aggressive advertising, said Paul Roye, director of the SEC's division of investment management.

As a result, the division and the office of compliance, inspections and examinations will continue their special review of fund marketing, Roye said. The review includes websites, sales literature and advertisements and seeks to determine whether statements on funds' websites, prospectuses and in advertising "are consistent with" funds' actual portformance, he said. SEC chairman Arthur Levitt requested the review, which began in February.

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