The Securities and Exchange Commission's new rule to beef up the independence of mutual fund boards represents an industry defeat.
The new rule lessened the restrictions so that the mutual fund board could be independent. 
( z1 lessen :ARG0 ( z2 rule :ARG1-of ( z3 new ) ) :ARG1 ( z4 restrict ) :purpose ( z5 possible :ARG1 ( z6 depend :polarity - :ARG0 ( z7 board :mod ( z8 fund :mod ( z9 mutual ) ) ) ) ) )