Trusted Insight for Independent Oversight

MFDF is an independent association for independent directors of mutual funds, ETFs, closed-end funds, and other registered investment companies.

MFDF helps independent directors navigate an evolving regulatory environment and steward shareholders’ investments. MFDF provides tailored educational resources and facilitates peer-to-peer networking, with offerings that include webinars, white papers, and interactive conferences. As an independent association, MFDF’s membership includes a wide range of fund boards and represents a diverse community of directors.

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Educational Offerings

MFDF provides comprehensive and high-quality educational resources tailored to independent directors. Explore upcoming programs, including webinars, single-day in-person seminars, multi-day conferences, and informal networking discussions.

Insights for the Field

The nature of the work of independent directors is ever-evolving. Read the latest news, practical guidance, comment letters to regulators, and other viewpoints.

Become a Member

Your goal is to steward your investors’ resources. We promise to steward yours. We take our role as your trusted partner seriously. And we pride ourselves on accessible membership dues and meaningful opportunities to learn and connect.

February 20, 2025 MFDF Series Dear Board Doc: Should my board consider whether to seek a director with specialized skills, such as AI or cyber expertise?

The investment management landscape is evolving rapidly, with many registered funds turning to alternative strategies and/or beginning to incorporate artificial intelligence. At the same time, cyber threats and other risks are becoming increasingly complex. Should my board add specialized expertise to its list of factors to consider when evaluating succession planning?

February 19, 2025 House Financial Services Committee Holds Two Hearings on Digital Assets

Both hearings emphasize the intent of congressional Republicans to move forward with a legislative framework to address regulatory gaps for the digital asset industry. Republican members of both Subcommittees noted the importance of working across the various agencies responsible for creating regulatory frameworks to oversee digital assets, as well as understanding where there may be gaps in regulatory authority.

February 18, 2025 Acting SEC Chair Uyeda Pauses Climate Disclosure Rule

In his statement, Acting Chair Uyeda notes the change in leadership at the Commission, adding that “the recent change in the composition of the Commission, and the recent Presidential Memorandum regarding a Regulatory Freeze, bear on the conduct of this litigation.” Acting Chair Uyeda states the Commission will “promptly notify the Court of its determination about its positions in the litigation.”

February 13, 2025 Commissioner Pierce Outlines Priorities for Crypto Task Force

Commissioner Pierce made note that some of these may take time to accomplish because “it took us a long time to get into this mess, and it is going to take us some time to get out of it.” She notes that the Commission will work alongside other regulators to create a regulatory framework that protects investors and while supporting product innovation.

February 12, 2025 SEC Settles Investment Model Deficiency Case with Two Sigma

In its order, the SEC noted that adviser employees had identified material weaknesses in the firms’ investment models whereby certain employees could alter parameters to the models without approval. The advisers failed to address these deficiencies despite the escalation of the issue by certain employees who proposed solutions to the problem.

Upcoming Events

Full calendar

February 20, 2025
Director Discussion Series - Open Forum via Zoom
MFDF's DDS meetings provide an opportunity for independent directors and CCOs to discuss timely issues with peers and experts. This Zoom meeting will be held from 2:00 pm - 3:00 pm (ET).
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February 26, 2025
AI and Portfolio Management
As part of MFDF's AI for Fund Boards webinar series, Karen Aspinall, Doug Clinton, Jan Hopkins, and Joyce Li will highlight case studies of AI usage in investment strategies and questions boards should consider during the 15(c) process as part of their risk oversight responsibilities. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Washington March 6, 2025
2025 Fund Governance & Regulatory Insights Conference
MFDF's annual Fund Governance & Regulatory Insights Conference will bring independent directors together with legislators, regulators, and other industry experts to discuss issues of critical concern to fund directors. This program is scheduled to be in-person starting at 8 am on March 6, 2025 and conclude at 12 pm on March 7, 2025.
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Newest Resources

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MFDF Member Series - Leveraging MFDF Membership to Locate Future Directors

Leslie Beckbridge, MFDF's Operations and Member Services Manager, highlighted MFDF's Director Candidate Database, a service that provides curated candidate lists in response to member boards' requirements. The webinar provided an overview of the Database, discussed how members can use it as part of succession planning efforts, and shared insights to get the best results from your inquiry.

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Board Diversity Resources

Explore news and resources relating to fund board diversity.

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