MFDF Enhances the Governance of Mutual Funds

The Mutual Fund Directors Forum is an independent, non-profit organization that serves independent directors of mutual funds and other U.S. registered investment companies. The Forum seeks to enhance fund governance by building a strong community among independent directors through educational and networking opportunities and by providing directors with a strong voice in the key policy debates impacting directors’ effectiveness and the future of the fund industry.

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MFDF Enhances the Governance of Mutual Funds | MFDF

February 2, 2023 Event of Interest: ESG & Alternative Investment Managers – 360 Degree View

ASC Advisors, Seward & Kissel, and PRI plan to host a webinar titled “ESG & Alternative Investment Managers – 360 Degree View" which will cover political trends, best practices, and solutions for those navigating the topic of ESG in the current market environment.

February 1, 2023 Federal Reserve Requests Climate Analysis from Largest US Banks

The Federal Reserve Board released details on a “Pilot Climate Scenario Analysis” (CSA) to learn how the six largest US banking institutions are managing the risks posed by climate change. The data collected will “enhance the ability of both large banking organizations and supervisors to identify, measure, monitor, and manage climate-related financial risks.”

January 31, 2023 MFDF Webinar: What You Need to Know About the SEC’s Swing Pricing Proposal

The SEC’s swing pricing proposal would mandate swing pricing for most open-end funds (excluding money market funds and ETFs). The program will provide an overview of the SEC's proposal on swing pricing and liquidity and its potential impact to the mutual fund industry.

January 30, 2023 Blog Post on Corporate Governance Highlights Challenges in Human Capital

The post notes that boards are hearing more about work-force related matters such as “culture, purpose, hybrid work, the future of work, well-being, skills gaps, automation, and shifting societal expectations, as well as diversity, equity, and inclusion (DEI).” As the post notes, aside from the regulatory scrutiny “institutional investors continue to advocate for corporate actions ahead of regulatory requirements.”

January 26, 2023 Kirkland & Ellis Releases Alert Highlighting SEC Scrutiny of ESG Claims by Advisers

The alert highlights how the fact pattern of the GSAM case varied slightly from the BNY Mellon order the SEC announced last May, but emphasizes the SEC is proactively looking at “all statements made about an adviser’s ESG strategy and is willing to bring enforcement actions regarding any perceived gaps between communications to investors/clients on ESG, an adviser’s ESG compliance policies and procedures and the adviser’s actual ESG investment process.”

Upcoming Events

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Stuart February 7, 2023
Director Discussion Series - Open Forum (Stuart, FL)
The Forum will host an in-person Director Discussion Series lunch in Stuart, FL to facilitate discussions for independent directors and CCOs to discuss timely issues brought up by participants. The event will be in-person from 11:30 am to 2:00 pm at The Elliott Museum in Stuart, FL.
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March 1, 2023
Fund Industry Claims Trends: An Insurer’s Perspective
Join Julie Ulstrup and Daniel Steiner from ICI Mutual as they provide an overview of the fund industry claims trends and recent developments in the fund industry insurance market. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Washington March 9, 2023
2023 Fund Governance & Regulatory Insights Conference
The Forum's annual FGRI Conference will bring independent directors together with legislators, regulators, and other industry experts to discuss issues of critical concern to fund directors. This program is scheduled to be in-person starting at 8 am on March 9, 2023 and conclude at 12 pm on March 10, 2023.
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Newest Resources

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Board Doc: What is an appropriate timeline for recruiting a new director?

The MFDF’s Board Doc is an occasional feature of the Daily News Feed that features questions from our readers. The answers and commentary provided in our responses do not constitute legal advice and should not be treated as such. Please consult with your independent counsel on questions of compliance with the securities laws and director fiduciary duties. If you would like the Board Doc to consider your questions, please e-mail BoardDoc@mfdf.org

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MFDF Webinar Archive: Observations from SEC Examinations of RICs

On March 1, the panel reviewed the recent risk alert issued by the SEC on October 26, 2021 entitled “Observations from Examinations in the Registered Investment Company Initiatives” identifying topics of interest and concern for boards of directors, outside counsel, internal legal staff, and compliance officers. Forum members can view the replay of the webinar archives by logging in to MFDF's website and clicking on the link below.

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