While the Securities and Exchange Commission wavers on the nearly three-year contested issue of independent board chairman—seemingly in favor of allowing a lead independent director—Morningstar has just shot off a letter to the SEC urging it to make independent chairmen a requirement.

“Without independent chairs and a supermajority of independent directors, we think the effectiveness of many boards is compromised by the inherent conflicts of interest between interested fund directors and fund advisors,” Morningstar Senior Fund Analyst Laura Pavlenko Lutton wrote in her March 1 letter.

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