Should the SEC revote on fund rule?
This is getting tricky. The SEC seems bent on revoting on a rule that would require the majority of fund directors to be independent, including the chairman. In fact, the SEC says it will do so one day before William Donaldson is scheduled to leavel office, presumbaly to ensure that the rule passes again. But the picture has turned a bit complex lately. A few former SEC chairman have sent in letters urging the SEC to delay the vote. Some wonder if a vote in the tenure of Chris Cox will ensure that it does not pass.
> Here's the New York Times article.