The companies that run exchange-traded funds have not used the mutual fund scandal as material for a marketing campaign.

The list of those implicated in the mutual fund scandal, meanwhile, continued to grow.

"The most tragic cases among the fund scandals were the ones that had the involvement of senior officials of the funds," he said.

That, in essence, is the story of the growing mutual fund scandal.

The mutual fund scandals have exposed a double standard in the fund industry.

Even before the fund scandal, Janus had been bleeding assets as the decline in the stock market took a toll on its funds' performance.

The proposal is one of the commission's main responses to mutual fund scandals that have shaken the industry since last fall.

But already one small company caught up in the mutual fund scandal is being shut.

THE mutual fund scandals entered a new phase last week.

But Tuesday's announcement elevated the mutual fund scandal to a new level, one that has the potential to affect millions of investors directly.