The Securities and Exchange Commission is seeking more public input on a rule requiring a majority of independent mutual fund board members and independent board chairmen.

The additional public comment period will last for 60 days. The SEC made the decision to seek additional input to comply with a court order. The SEC filed a status report with the US Court of Appeals for the District of Columbia Circuit said it is soliciting comment on costs as well as "any issue related to the underlying purpose of the independence requirements, which is the protection of funds and fund shareholders."