With more than $4 trillion of assets, the mutual fund business has expanded into many other industries, including banking. At a mutual fund conference in Orlando last week, sponsored by the Federal Bar Association and the Investment Company Institute Education Foundation, ICI president Matthew P. Fink spoke about the regulatory systems that fund companies now encounter as a result of the industry's expansion. The following is excerpted from his remarks:

A series of laws, such as the Glass-Steagall Act and the Bank Holding Company Act, produced a system under which financial services were strictly segregated.

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