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Summary
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 SEC
has sought to change mutual fund governance
- By requiring at least 75% of directors to be
independent
- By requiring an independent Chairman
These
rule changes have been twice overturned SEC
has re-proposed this rule change
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SEC Releases
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Release IC-27395 2006
Release IC-26985
2005
Final Release IC-26520
2004
Proposal
release IC-26323 2004
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Court Challenge: Chamber of Commerce v SEC
SEC_CODE_REF_0090001192884
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Court
of Appeals - DC Circuit
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Opinion 4.07.06
- Invalidated SEC amendments
- On grounds that SEC had failed to seek comment on
the data used to estimate the costs of the amendments
- Petition for review
- Chamber of Commerce
Court
of Appeals - DC Circuit
- Invalidated SEC amendments
Other
materials
Commentary
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