Over the past decade, the mutual fund industry has changed in myriad ways. A once stodgy industry, with relatively little innovation in marketing or product line, has begun to experience and respond to significant disruption. New products and strategies, such as  index funds, ETFs, alternatives and smart beta have dramatically changed the offerings available to investors. At the same time, the internet, apps and emerging AI technologies have vastly changed how funds are distributed and sold to investors. These two trends have put an ever greater spotlight on the legal issues associated with the relative lack of transparency around the fees charged and the services provided by players in the distribution chain. Read the full article.