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.

July 28, 2026 Ropes & Gray Releases Investment Management Update

In July, Ropes & Gray released a comprehensive investment management update which covers a variety of industry updates, regulatory announcements, and Securities and Exchange Commission (SEC) rule proposals.

July 27, 2026 MFDF Blog: Summer Update

For the next six weeks, the MFDF blog will reduce posts to two- to three times per week. Enjoy the remainder of your summer and keep the MFDF staff posted with any fabulous reads or adventures you are partaking in.

July 23, 2026 MFDF Board Bookshelf: 1929. Inside the Greatest Crash in Wall Street History -- and How it Shattered a Nation. By Andrew Ross Sorkin. Viking. 2025.

While there were no cliffhangers or surprises, this historical account was riveting, and we can see why it resonates with the fund director community. It’s hard to even imagine the time when markets existed without the constraints of the securities laws.

July 22, 2026 SEC Releases Proposal on E-Delivery of Regulatory Documents

The proposal would permit, but not require, investment firms to use e-delivery as the default method to deliver documentation to shareholders. According to an SEC press release, the rule "would expand the ability of issuers, broker-dealers, investment advisers, and others to use electronic delivery to satisfy information delivery requirements under the federal securities laws.”

July 21, 2026 SEC Chairman Paul Atkins Remarks Emphasize U.S. Free Market Tradition

Chair Atkins described the proper regulatory framework as more of a “trellis” than a “cage” in that it is strong enough to support the markets, but not so restrictive that it prevents growth.

Upcoming Events

Full calendar

August 6, 2026
MFDF Member Town Hall | Year in Review & Looking Ahead (Session 1)
On August 6, Carolyn McPhillips, MFDF's President, will host an exclusive town hall for MFDF members to comment on MFDF's programs in 2026 and a look ahead to what's coming up in the next year.
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August 25, 2026
MFDF Member Town Hall | Year in Review & Looking Ahead (Session 2)
On August 25, Carolyn McPhillips, MFDF's President, will host an exclusive town hall for MFDF members to comment on MFDF's programs in 2026 and a look ahead to what's coming up in the next year.
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September 2, 2026
AI in the Fund Boardroom
As part of MFDF's AI for Fund Boards webinar series, K&L partners will provide practical guidance on how board members might use AI appropriately, while navigating the risks around quality concerns, confidentiality, legal privilege, and record keeping. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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July 22, 2026

Webinar Archive - Board Oversight of Subadvisers - Regulatory and Compliance Issues

Gwendolyn Williamson, Partner at Faegre, Drinker, Biddle & Reath, and Philip Wellman, Vice President and Chief Compliance Officer, MML Investment Advisers and MassMutual Funds, discussed the compliance and regulatory issues involved in the hiring and ongoing oversight of fund subadvisers, while providing practical guidance for fund boards. The webinar aired live on July 22, 2026.
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July 21, 2026

Webinar Archive - After FS Credit: What Fund Boards Need to Know About the Supreme Court's Section 47(b) Ruling

Skadden partners highlight the Supreme Court's landmark decision declining to recognize an implied private right of action under Section 47(b) of the Investment Company Act of 1940 and what it means for fund governance and independent directors. The webinar aired live on July 20, 2026.
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July 14, 2026

Webinar Archive - An Introduction to RIC Taxation and Mid-Year Updates

Amy Snyder, Principal at EY, Caitlin Link, and Roger Wise, Partners at Willkie, Farr & Gallagher will focus on tax basics for RICs and provide a mid-year update. The webinar aired live on July 14, 2026.
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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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