Sixth Circuit Finds No Affiliate Aggregation for 36(b), No Private Action for 36(a) - Oct 24, 2014

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The Distribution Dilemma for Closed-End Funds

Forum Webinar Series

In the current low interest rate environment, investors are putting increased emphasis on closed-end fund distributions when evaluating potential investments. Yet heightened regulatory scrutiny and technicalities unique to investment company payouts make Boards’ distribution policy decisions increasingly complex. Join us as we discuss these challenges with Cecilia Gondor, the former head of closed-end fund research at Thomas J. Herzfeld Advisors, Inc.


CCO Compensation:  The MPI Annual Survey 2014

Forum Webinar Series

Management Practice has conducted an annual survey of mutual fund Chief Compliance Officer compensation for the past nine years. Each summer MPI releases its "Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices", which provides aggregate compensation data received through confidential questionnaires from fund CCOs and other industry executives. This webinar will provide highlights from the most recent survey.


Best Execution in Today’s Complex Markets

Washington, DC

The Center for Financial Policy at the University of Maryland's Robert H. Smith School of Business and the Mutual Fund Directors Forum will host a day long roundtable on issues of concern to fund directors in mutual fund trading.

The Distribution Dilemma for Closed-End Funds
CCO Compensation: The MPI Annual Survey
Best Execution In Today's Complex Market
Update on Trends in the Asset Management Industry
Nuts & Bolts of Being a Director

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Sixth Circuit Finds No Affiliate Aggregation for 36(b), No Private Action for 36(a)

October 24, 2014

The Sixth Circuit Court of Appeals affirmed a district court’s decision dismissing claims relating to iShares’ securities lending program. The lawsuit was based on a 35% lending fee paid to an affiliate of the funds’ investment adviser, which plaintiffs claimed amounted to “excessive… read more

SEC Releases FY 2014 Enforcement Data

October 23, 2014

Last week, the SEC released data on enforcement actions for the fiscal year 2014 showing that the agency filed 755 enforcement actions and collected disgorgement and penalties of $4.16 billion. The number of actions filed represents a ten percent year-over-year increase, after a decline of… read more

Piwowar Concerned About Regulation by Enforcement

October 22, 2014

SEC Commissioner Michael Piwowar opposed using enforcement as an alternative to rulemaking in a speech at the Securities Enforcement Forum last week. While acknowledging the difficulties inherent in the rulemaking process, he stated “[n]evertheless, I have significant concerns when Commission orders – especially in… read more