The SEC is prepared to look back before Dec. 8 to sue mutual fund companies if the agency finds apparent violations of the pricing policies outlined in a letter the agency issued last month.

The letter on mutual fund pricing is consistent with oral guidance on pricing that SEC officials have long given mutual fund executives, said Douglas Scheidt, associate director of the SEC's division of investment management. While the letter provides a public, written explanation of the SEC's position on the need for funds to mark their assets to market, it does not represent a change in SEC interpretation of the pricing issue, Scheidt said.

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