The mutual fund industry and former Securities and Exchange Commission officials are fighting back over a rule adopted by the Commodity Futures Trading Commission that will force many mutual funds to register with the CFTC.
The Mutual Fund Directors Forum, the independent membership forum for fund directors, is the latest group to join in the fight along with the Investment Company Institute, the U.S. Chamber of Commerce as well as former SEC commissioners and senior officials at the agency.
On Thursday, the Mutual Fund Directors Forum filed a “friend of the court” brief with the Court of Appeals for the D.C. Circuit, supporting a challenge brought by ICI and the Chamber of Commerce.