Even if the Securities and Exchange Commission decides against the independent chairman rule, most fund companies that have already put an independent chairman in place aren't likely to change that policy, The Wall Street Journal reports.

In response to a court order, the SEC earlier this week decided to revisit the controversial rule and open it to public comment for 60 days, opening the possibility that it will decide not to mandate that fund boards are run by an independent chairman.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.