The U.S. Court of Appeals for the D.C. Circuit will not stand in the way of the SEC, at least for now.

The court ruled on Monday that it would not delay the SEC's independent chairman rule while it considers a case brought by trade organization the U.S. Chamber of Commerce, reported the WSJ.

The U.S. Chamber of Commerce is challenging the authority of the SEC to require an independent chairman on fund boards.

The court rule that it will, however, expedite the case, reported the WSJ. The rule is slated to take effect in January 2006. 

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