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Chamber Seeks Details Behind SEC Studies

The U.S. Chamber of Commerce has petitioned the Securities and Exchange Commission to provide it, under the Freedom of Information Act, with details about how it conducted studies into the costs of implementing the independent directors rule. The SEC first published the two economic analyses on the proposed rule in December.

The Chamber sued the SEC in 2004 over the rule, and a federal appeals court found in favor of the Chamber.

The Chamber said it needs the documents in order to "prepare [its comment] meaningfully," the deadline for which is March 2.

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