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.

April 9, 2026 MFDF’s Composition Survey Report Offers a Unique Look at Fund Independent Directors’ Qualifications

The report shows a point-in-time look at the independent directors that make up the fund board industry, and illuminates points of commonality between boards (all responding boards have at least one independent director who joined the board with existing experience serving on another type of board) as well as areas of variability among boards, such as with regard to board members serving on multiple fund boards.

April 8, 2026 DOL Releases Rule Proposal Allowing 401(k) Plan Exposure to Alternative Investments

The DOL rule proposal creates a “process-based safe harbor,” which names six factors that fiduciaries must thoroughly consider and determine when selecting alternatives. The non-exhaustive list of factors include: performance, fees, liquidity, valuation, performance benchmarks, and complexity.

April 7, 2026 SEC Chair Atkins Outlines Commission Priorities at SEC Speaks 2026

Atkins underscored the importance of rules keeping pace with the industry, noting that innovations such as crypto could be stifled or driven offshore if the regulatory framework could not adapt. Atkins also discussed the vital importance of clarifying the “crazy quilt” of supervisory authorities, noting that the volume and density of overlapping regulatory requirements has resulted in an excessive compliance burden.

April 6, 2026 Management Practice Requests Participants for CCO Survey

The data provided is aggregated and individual names or complex-specific data will never be revealed. Qualified participants will receive, at no charge, a summary version of the results, which is scheduled to be released in late June.

April 2, 2026 SEC and CFTC Issue Joint Crypto Guidance

The guidance, while not formal rulemaking, provides direction on how to apply crypto assets to the Howey test, the Supreme Court standard used to determine whether a transaction constitutes an ‘investment contract’ and therefore a security subject to SEC regulation.

Upcoming Events

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Kansas City April 16, 2026
Director Discussion Series - Open Forum (Kansas City)
MFDF and KPMG will host an in-person Director Discussion Series lunch meeting in Kansas City to facilitate discussions for independent directors and CCOs to discuss timely issues brought up by participants. The event will be in-person from 11 am to 1 pm (CT) at KPMG's Kansas City office.
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April 22, 2026
MFDF Spotlight: Key Findings and Insights from MFDF’s Fund Board Composition Survey
Join MFDF's Leslie Beckbridge as she highlights the key findings from MFDF's Fund Board Composition Survey, along with the survey’s methodology and explore how directors may draw meaning from the data. This will broadcast live from 2 pm - 2:30 pm (ET).
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May 13, 2026
Update on Fund Industry Claims Trends: An Insurer’s Perspective (2026)
Join Julia Ulstrup and John Mulligan from ICI Mutual as they provide an update of 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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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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