BOSTON -- Banks can expect more scrutiny from the Securities and Exchange Commissions as they become involved in the mutual fund business, according to the former director of the agency's investment management division.

"If you're a bank that is advising and sponsoring a mutual fund, you can expect a visit from the SEC," said Marianne K. Smythe who left the SEC in May to become partner with the Washington law firm of Wilmer Cutler & Pickering.

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