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, April 18, 2005 Chamber Calls Indy Rule ‘Extraordinary’ Eugene Scalia, the attorney representing the U.S. Chamber of Commerce in a suit that challenges the SEC’s independent chairman rule, called the rules “extraordinary.” The comments were made during a hearing that took place on Friday, reports the Washington Post. "What the commission is doing here is extraordinary," said Scalia during the hearing. "It's changing the management structure in 80 percent of the industry." The three-judge panel, consisting of Chief Judge Douglas H. Ginsburg and judges Judith W. Rogers and David S. Tatel, conducted a hearing that lasted approximately 45 minutes, reported the Post. SEC Commissioner Cynthia Glassman, who opposed the rule, was among the attendees of the hearing. According to the Post, Glassman laughed in response to SEC lawyer Giovanni P. Prezioso’s statement, "I certainly wouldn't characterize anything any of my commissioners does as frivolous." Printed from: MFWire.com/story.asp?s=9508 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |