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.

Learn more about MFDF

MFDF Enhances the Governance of Mutual Funds | MFDF

December 1, 2022 Nasdaq Article Discusses How to Emphasize the ‘G’ in ESG as a Board Member

An article published by Nasdaq titled, “Crafting the ‘G’ in ESG: Accountability in the Boardroom” considers the dynamic topic of ESG and strategies for boards to meet the ESG expectations of their stakeholders. The article emphasizes “[o]ver time, diverse boards will have more robust debates, make sounder decisions, understand customers better and attract higher performing employees.”

November 30, 2022 ACA Releases November Regulatory Update

The report covers the SEC’s crackdown on use of unmonitored messaging apps, the approaching annual renewal cycle for registered investment advisers, and the SEC’s latest rule proposal addressing due diligence on service providers, among other topics. It also contains references to additional programs and reports, as well as a checklist of upcoming regulatory deadlines.

November 29, 2022 Report Highlights How Boards Can Enhance Culture and Effectiveness

A Sidley Austin attorney shares ways for directors to increase their effectiveness by establishing norms around director behavior. The article sets forth certain behaviors that individual directors can practice in order to improve trust and respect.

November 28, 2022 K&L Gates to Host Webinar on Disclosure Modernization

K&L Gates plans to host a webinar covering the SEC’s final rule on tailored shareholder reports. The adopted final rule changes (1) shareholder report content and delivery requirements for mutual funds and exchange-traded funds registered on Form N-1A; and (2) advertising rules for all registered investment companies, including closed-end funds and business development companies.

November 23, 2022 SEC Issues FAQ Regarding Adviser Consideration of DEI Factors

SEC staff published guidance as an FAQ confirming that, consistent with its fiduciary duty and subject to certain conditions, an investment adviser can incorporate DEI factors when recommending or selecting an investment adviser for its clients. While the guidance does not expressly reference registered funds, according to a Ropes & Gray alert the guidance appears to apply to recommendations involving sub-adviser selection for registered funds that operate in a manager-of-managers structure.

Upcoming Events

Full calendar

December 7, 2022
Director Discussion Series - Open Forum via Zoom
DDS Meetings provide a venue for independent directors and CCOs to discuss timely issues with peers and experts. This Zoom meeting will be held from 11:00 am to 12:00 pm.
Learn more
December 8, 2022
Investment Valuation and Governance: Deloitte's 20th Annual Fair Valuation Pricing Survey
Join Paul Kraft, , Pedro Beato, and Tom Wines as they discuss the latest findings from Deloitte's 20th edition Annual Fair Valuation Survey. The webinar will broadcast live from 2 pm - 3 pm (ET).
Learn more
December 14, 2022
In Focus: Closed-End Fund Activism
Join Jay Spinola, Partner with Willkie Farr & Gallagher LLP, as he discusses the latest in Closed-Fund Activism and how it affects directors who oversee Closed-End Funds. This event will take place on Zoom on December 14, 2022 from 1:00 pm to 2:00pm (ET).
Learn more

Newest Resources

See all

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

Read Answer Here

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.

Watch Replay