Selling funds through mutual fund supermarkets may start taking a larger bite out of profits for the companies which advise mutual funds.

A top SEC official has warned mutual fund advisers that they should not raise the fees they charge for running funds to pay for sales through mutual fund supermarkets. Douglas Scheidt, chief counsel of the Division of Investment Management, said the SEC will "closely scrutinize" any fee increase "that appears to be for the purpose of compensating the fund's investment adviser for paying the fund's supermarket fee."

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