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.

October 30, 2025 Board Bookshelf: Sharing the Wealth, Investing Wisdom with Next Generation (Part 1)

In her book, Linda Davis Taylor lays out how families can imprint a mindset of prudent money management for generations by careful planning, cultivating values, and recruiting all family members to participate – strategies not dissimilar from sound governance principles.

October 29, 2025 Sidley Publishes Securities Enforcement and Regulatory Update

The fiscal year, ending on September 30, saw 90+ enforcement actions targeting rule enforcement, conflicts of interest, misrepresentations and inadequate disclosures, artificial intelligence, miscellaneous compliance failures, and other related areas. According to Sidley, “These numbers were substantially down from the prior fiscal year, where the SEC brought over 130 actions against investment advisers and their representatives.”

October 28, 2025 House Bill Introduced to Codify Executive Order Allowing Access to Alternatives in 401(k) Plans

In October, Representative Troy Downing (R-MT) introduced the “Retirement Investment Choice Act” (H.R. 5748) which would codify President Donald J. Trump’s Executive Order 14330 by directing the Department of Labor and Securities and Exchange Commission (SEC) to reduce regulatory barriers prohibiting investments like private equity, real estate, and digital assets from being eligible for inclusion in 401(k) retirement plans.

October 27, 2025 Connecting the Dots- Expanding Your Professional Network

While networking and referrals are a key aspect of many boards’ recruitment strategies, some directors approach networking as a way to develop board skills, access advice and resource referrals, and encounter board- or fund-related expertise that is valuable in their own boardrooms. Skill in making and developing new connections also nods toward a person’s intellectual curiosity, an attribute that many boards see as crucial for directors to exemplify.

October 23, 2025 SEC Issues No-Action Letter on State Trust Companies Serving as Custodians for Crypto Assets

The no-action letter allows qualifying STCs to act as ‘banks’ under the custody rules of the 1940 Act and the Investment Advisers Act, and outlines a number of conditions that eligible STCs must meet, including a best interest determination, appropriate authorization, implementation of certain policies and procedures, adoption of certain custodial services agreement provisions, and disclosure requirements.

Upcoming Events

Full calendar

November 5, 2025
In Focus: Audit Committee Chair
John Braun, partner at Cohen & Co. and David Roeber, partner at Stradley Ronon will facilitate a discussion on the top issues for audit committee chairs. This virutal discussion will be from 1:30 pm to 2:30 pm (ET).
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November 10, 2025
AI and Third-Party Oversight
As part of MFDF's AI for Fund Boards webinar series, EY's Bill Hobbs and Phil Payad explores how AI is being integrated into third-party service providers, from fund administration to compliance, and what board members need to know to fulfill their fiduciary responsibilities.The webinar will broadcast live from 2 pm - 3 pm (ET).
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November 13, 2025
Mutual Fund CCO Compensation: The MPI Annual Survey Update
Join MPI as they highlight the results from its latest annual survey of mutual fund Chief Compliance Officer compensation. 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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