PALM DESERT, Calif – Is the Financial Stability Oversight Council out to undermine the Securities and Exchange Commission’s “role, independence, and democratic process”? Karrie McMillan, General Counsel, Investment Company Institute, seems to think so.

“As you know, last summer, the SEC staff was working on set of proposals for structural reform. A bipartisan majority of SEC commissioners, however, declined to support making those proposals,” said McMillan, kicking off the 2013 Mutual Funds and Investment Management Conference today.

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