MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 27, 2005 What Will the SEC Come up With? Anonymous sources tell Reuters that SEC commissioners will meet with staff on Wednesday to consider three responses to the ruling in the case brought against them by the U.S. Chamber of Commerce on fund governance. A court ruled last week that the SEC did not properly consider the cost impact of the rules nor did they consider a disclosure alternative to the rule. The options include simply telling the court that the SEC did consider costs and alternatives in crafting the independent director and chairman rule, voting on language to add to the rule, or putting a new and improved rule back through the comment and action process, sources told Reuters. "The staff is working to put the commission into a position where it has the full range of options available to it by Wednesday," an SEC spokesman told Reuters. Printed from: MFWire.com/story.asp?s=9966 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |