The battle lines have been drawn. In a fairly uncharacteristic public display of inside-thebeltway politics, the US Securities and Exchange Commission (SEC) has dug in its heels, as has the US Chamber of Commerce, the nation’s largest federation of business companies and associations, which is professing to represent interests of mutual funds and their investors.
Earlier this month, the US Court of Appeal for the District of Columbia Circuit issued a second ruling staying the effectiveness of certain SEC rules in an ongoing court struggle between the Chamber of Commerce and the SEC that prom-ises to keep this drama in the public eye for several months to come.
