The U.S. Securities and Exchange Commission is asking for further comment on its proposed rules requiring mutual fund board independence.

The SEC today filed a status report with the U.S. Court of Appeals for the District of Columbia Circuit regarding its rules requiring the board of directors of most mutual funds to have an independent chair and 75% independent membership.

In April, the court concluded the commission had violated the Administrative Procedure Act by not affording an opportunity for public comment on data it used to estimate the costs of complying with the proposed rules

At that time, the court determined it would be appropriate to vacate the rules, but delayed issuing its mandate and ordered the commission to file a status report with the court within 90 days.

In its status report filed today, the commission 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.” The solicitation is contained in a formal Request for Additional Comment approved unanimously by the five commissioners to be published in the Federal Register.

“The commission takes seriously our obligation in rulemaking to solicit and fully consider the public’s views,” said SEC chairman Christopher Cox. “I have every confidence that the process we are announcing today will result in mutual fund governance that both protects investors and promotes their interests.”

The SEC is also specifically is seeking comment on whether the rules will promote efficiency, competition, and capital formation. In an earlier ruling, the court found that the commission had failed to comply with this provision, and that the failure violated the Administrative Procedure Act.

Separately, Cox has asked the SEC’s general counsel to conduct a top-to-bottom review of its process for complying with laws that require an economic analysis of rule proposals. The purpose of the review is to ensure the commission takes full advantage of the significant expertise of its staff when preparing the legally mandated analysis of economic impact that must accompany proposed regulations.

The comment period is open for 60 days.