The Securities and Exchange Commission's new rule to beef up the independence of mutual fund boards represents an industry defeat.
the securities and exchange commission new rule represents success
( z1 represent :ARG0 ( z2 rule :ARG1-of ( z3 new ) :mod ( z4 commission :topic ( z5 and :op ( z6 securities ) :op ( z7 exchange ) ) ) ) :ARG1 ( z8 succeed ) )