As the Securities and Exchange Commission sifts through more than 300 comment letters on its mutual fund independent board rule, some are speculating that the Commission might capitulate by requiring only two-thirds, not 75%, of the board be independent, Dow Jones reports. And there is a slight chance the SEC might permit funds to determine for themselves if the chairman should be independent, as well.

The two-thirds compromise "might be more palatable" to regulators, said fund consultant Geoff Bobroff of Bobroff Consulting.

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.