Opportunity sued the SEC in hopes of blocking the proposed regulation for hedge funds. The US Chamber of Commerce, which is already engaged in a separate battle to overturn newly enacted guidelines requiring mutual fund boards to appoint independent chairmen, is considering drafting a friend of the court brief to support Opportunity.
A senior official at the Chamber recently suggested the brief may not be necessary if the independent chairmen rule is overturned early this year because legal guidelines supporting both regulatory measures are inexorably linked.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.
