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.

December 4, 2025 SEC Issues Order Granting Dual Share Class Relief

In November, the Securities and Exchange Commission (SEC) issued an order granting exemptive relief to Dimensional Funds to offer ETFs as a share class within a multiple share class structure. The exemptive application was originally filed in July 2023 and led to more than 80 applications by fund sponsors to obtain the same relief.

December 3, 2025 Event of Interest: Brookings to Host Virtual Event with SEC Commissioner on the Future of Financial Regulation

Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw will reflect on her tenure at the SEC and discuss her views on the biggest challenges facing the agency, investors, and our markets today, as well as share some insights on the future of financial regulation.

December 2, 2025 SEC Division of Examinations Releases 2026 Exam Priorities

The Securities and Exchange Commission (SEC) Division of Examinations released its 2026 Exam Priorities that explains the areas of focus for the Division. For investment companies, the Division notes exams will generally include gathering information regarding compliance programs, disclosures, filings like the summary prospectus, and governance practices.

December 1, 2025 MFDF Webinar: Investment Series- Fixed Income

As part of MFDF's Investment Series webinars, AJ Rivers, AB's Head of US Retail Fixed Income Business Development & Senior Investment Strategist, and Dwight Churchill, independent director on the SPDR Series Trust board, will break down the latest developments in the fixed income market.

November 26, 2025 MFDF Webinar: Digital Assets Regulatory Updates & Trends in the Industry

Val Dahiya, partner and Co-Head of Securities + Derivatives Regulatory Solutions at Morrison Foerster, and Prashant Kher, Managing Director, Strategy and Execution, EY-Parthenon, offers a timely deep dive into the latest developments shaping how digital assets are governed, integrated, and trends in tokenization, cryptocurrencies, and digital assets across the fund industry.

Upcoming Events

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December 9, 2025
Fixed Income Insights: Navigating Market Trends & Opportunities (NEW DATE)
As part of MFDF's Investment Series webinars, this webinar will discuss the latest developments in the fixed income market. The webinar will broadcast live from 2 pm - 3 pm (ET).
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December 16, 2025
Navigating Co-Investment Relief for Fund Boards
Dechert partners Julien Bourgeois and Paul Stevens will provide an overview of the co-investment relief provided by the SEC last spring, including review key changes from prior orders and an examination of the important considerations for fund directors to understand as the fund industry works to implement the updated relief. The webinar will broadcast live from 2 pm - 3 pm (ET).
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December 18, 2025
2025 Fair Valuation Pricing Survey Update
Join Deloitte's Paul Kraft, Michelle Coombs and Matt Morlock as they discuss the latest findings from Deloitte's 23rd edition Annual Fair Valuation Survey. 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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