Many of the new rule proposals governing the maligned mutual fund industry have already been ratified by the
"The Commission will soon be voting on new proposals to improve the governance and financial transparency of all self-regulatory organizations," Chairman William Donaldson said at the
Corporations themselves have already seen tighter regulations, Donaldson pointed out, with nine of 12 rule changes having been passed, including the controversial board independence rule that has recently been attacked in court by the
"We believe that SROs play a critical role as standard setters for issuing companies, operators of trading markets and front-line regulators of securities firms," Donaldson said. "We should consider holding them to higher corporate governance standards, as well."