Independent mutual fund directors must provide more information about themselves and, in some cases, their families but also stand to receive valuable protection if the SEC eventually adopts new and revised rules and guidelines that the agency proposed last week.

Directors would be required to disclose the number of fund shares they own and identify potential conflicts of interest under the proposals SEC officials announced Oct. 13. The potential conflicts would include any significant business relationships that independent directors and their family members entered into with a fund management company, said Paul Roye, director of the SEC's division of investment management.

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