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.

June 18, 2026 SEC Chairman Paul Atkins Discusses Disclosure Reform and Modernization Efforts on “Material Matters” Podcast

Division of Corporation Finance Director Jim Moloney emphasized that many SEC rules were developed decades ago and may no longer reflect current technologies, markets, or business practices. He compared the accumulation of disclosure requirements to “30 coats of paint on a banister,” suggesting that disclosure obligations have evolved in a way that does not promote clear disclosure to investors

June 17, 2026 MFDF Webinar: Series Trust Funds – Audits

The session provides a practical, board‑level perspective on the audit process, emphasizing the issues most critical to audit committee oversight, fiduciary responsibility, and evolving regulatory expectations. The program is designed specifically for audit committee directors and independent trustees overseeing series trust fund complexes, but independent fund directors are likely to find valuable takeaways.

June 16, 2026 SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies

Public companies would have the option to take either filing approach, with Form 10-S replacing Form 10-Q for those selecting that option. New Form S would require narrative disclosures and financial information that are similar to those included in Form 10-Q, but for a six-month period.

June 15, 2026 SCOTUS Declines to Recognize Implied Private Right of Action

On June 11th, 2026, the Supreme Court declined to recognize an implied private right of action in Section 47(b) of the Investment Company Act of 1940 in the FS Credit Opportunities Corp. v. Saba Capital Master Fund Ltd. case, preserving the important role of independent directors in overseeing funds on behalf of all shareholders.

June 11, 2026 New Study Finds SPIVA U.S. Scorecard Understates Performance of Actively Managed Mutual Funds

The authors argue that three modifications to the methodology of the study could better reflect the typical mutual fund investor’s actual experience: not regarding funds that exit the sample to be underperforming, weighting results by fund assets, and comparing performance against passively managed funds rather than hypothetical benchmarks.

Upcoming Events

Full calendar

June 23, 2026
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 11:00 am - 12:00 pm (ET).
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June 24, 2026
Directors of Color Roundtable
In June 2026, MFDF's Directors of Color Roundtable will meet for a discussion of allyship.
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June 25, 2026
Series Trust Funds - Audits
As part of MFDF's Series Trust Funds program series, this session features a board‑focused overview of series trust fund audits, highlighting key risks, oversight responsibilities, and best practices for audit committee directors on series trust boards. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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June 3, 2026

MFDF Spotlight Archive: Authorized Participants and Market Makers - Helpful Takeaways for Fund Boards

As part of MFDF's ongoing ETF oversight series, this MFDF Spotlight webinar will discuss how ETFs utilize APs and market makers, including how those relationships form initially and then may evolve over time. This webinar aired on June 2, 2026.
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May 22, 2026

Webinar Archive: Mutual Fund Director Compensation: The MPI Annual Survey (2026)

This webinar will summarize the findings from MPI's recent annual "Survey of Mutual Fund Director/Trustee Compensation and Organizational Practices." This webinar aired on May 21, 2026.
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May 19, 2026

Webinar Archive: Navigating the DOL's Proposed Rule on 401(k) Plan Exposure to Alternative Investments

Natasha Vij Greiner and Gretchen Passe Roin of WilmerHale will discuss the DOL's proposed rule "Fiduciary Duties in Selecting Designated Investment Alternatives" and walk through how the rule could impact the responsibilities of fund boards. This webinar aired on May 18, 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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