The U.S. Chamber of Commerce might file an amicus brief supporting a...

The U.S. Chamber of Commerce might file an amicus brief supporting a lawsuit challenging the new rule that requires hedge fund advisers to register with the SEC, said David Hirschmann, senior vice president. The chamber's own legal challenge against the SEC, for a rule requiring mutual funds to have an independent chairman of the board, will be heard on April 15 by the U.S. Court of Appeals in Washington, Mr. Hirschmann said. But, it is also possible that "we might have resolution of the mutual fund rule before the hedge fund rule is heard," and if the chamber's lawsuit succeeds, the SEC might have to withdraw the hedge fund rule, he said. "Many of the grounds on which the lawsuit challenging the hedge fund rule are filed are similar to our lawsuit," he said.