In a recent speech, Barry P. Barbash, director of the Securities and Exchange Commission's investment management division, cautioned mutual fund executives to polish their sales practices or risk alienating their customers.

The second of three installments of his speech follows. In part one, published Monday, he laid out reasons why investors have begun focusing on the drawbacks on mutual funds. In part two, he focused on the shortcomings of some verbal and written disclosures. The final installment will appear shortly.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.