As the SEC and the U.S. Chamber of Commerce get set to face off in federal court Friday over the independent director rule, key players in the case commented on the case for MarketWatch.

Eugene Scalia, one of the lead attorneys representing the U.S. Chamber, said, "These provisions exceed the Commission's authority," noting in a press briefing last Friday, "The Securities and Exchange Commission doesn't really have the authority to regulate corporate governance practices."

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