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 14, 2026 SEC Releases Novel ETF Request for Comment

The Request highlights concerns that the products in the queue for launch may not be investment companies, whether to establish a more rigorous process for registration statement review, and whether Rule 6c-11 of the Investment Company Act of 1940 should be amended to address these novel strategies.
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July 13, 2026 MFDF Webinar: After FS Credit: What Fund Boards Need to Know About the Supreme Court's Section 47(b) Ruling

The Supreme Court's decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund Ltd. marks a significant moment for the fund industry. Join us for a timely discussion on what this ruling means for fund governance.
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July 9, 2026 MFDF In-Person Event: Closed-End Fund Roundtable in New York City

In partnership with KPMG, MFDF and industry experts will gather to discuss important issues facing boards of closed-end funds including: Threats from Activist Shareholders; Implications from the FS Credit Opportunities Corp. v. Saba Capital Master Fund Ltd. Supreme Court Decision; Interval & Tender Offer Fund Structures; Product Development; Distribution; and Valuation Considerations. As always, MFDF in-person events also offer fund trustees the opportunity to network with peers and industry leaders.
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July 8, 2026 Commissioner Peirce Delivers Remarks at Chamber’s Capital Markets Summit

Commissioner Peirce listed several areas for reform relevant to the fund industry, which include “[u]pdating transfer agent rules, empowering firms to use new technologies to enhance investor disclosures, rethinking recordkeeping rules, reforming investment company proxy processes, and tending to other similar matters...” She concluded her speech by noting that the Commission “will benefit from energetic new voices with fresh ideas about how to protect our precious and powerful capital markets.”
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July 7, 2026 MFDF Webinar: An Introduction to RIC Taxation and Mid-Year Updates

This webinar will focus on tax basics for registered investment companies including compliance with Subchapter M of the Internal Revenue Code, with a discussion of diversification, qualified income, and distributions. Panelists Amy Snyder, Principal at EY; Roger Wise, partner at Willkie, Farr & Gallagher; and Caitlin Link, partner at Willkie, Farr & Gallagher will also discuss the tax mechanics of in-kind transactions and general updates in the RIC tax world.
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Upcoming Events

Full calendar

  • July 15, 2026

    In Focus - Overview: Board Oversight and Usage of AI

    MFDF is pleased to partner with Willkie to offer a 3-part In Focus series on Board Oversight and Usage of AI, a confidential virtual discussion specifically designed for current RIC independent directors and CCOs. This first discussion will focus on the two main AI oversight priority issues for independent RIC boards. This virtual session will be on Zoom from 1:30 PM to 2:30 PM (ET). Spaces are limited.

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  • Chicago July 16, 2026

    Director Discussion Series - Open Forum (Chicago)

    MFDF and Ropes & Gray will host an in-person Director Discussion Series lunch meeting in Chicago to facilitate discussions for independent directors and CCOs to discuss timely issues brought up by participants. The event will be in-person from 12 pm to 2 pm (CT) at Ropes & Gray's Chicago office.

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  • July 20, 2026

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

    Skadden partners will highlight the latest 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 will broadcast live from 2 pm - 3 pm (ET).

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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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