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Fund Times

Fund Times: SEC Reopens Chairman Rule for Comments

Plus, Alger and Ken Corba in separate settlements with regulators and a fund for Democrats.


The SEC said Tuesday it is reopening the comment period for the rule requiring 75% of mutual fund board members to be independent, including the chairman.

The U.S. Court of Appeals for the District of Columbia Circuit ruled in April that the SEC should give the public a chance to comment on data the commission used to estimate the costs of complying with the rules.

Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.