Securities and Exchange Commission Chairman Christopher Cox indicated last week that the regulator would seek additional public comment on its independent chairman rule, a likely sign that he intends to forge ahead with one of his predecessor's most controversial measures.

Speaking to reporters after a Senate Banking Committee testimony that ran the regulatory gamut, Cox said, "That's the direction we're going. In the next few days, we should be able to say something publicly."

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.