Final Valuation Rule Resources

On December 3, 2020, the SEC adopted new Rule 2a-5 under the 1940 Act and issued significant guidance on the valuation of fund investments, clarifying how fund boards may carry out their responsibilities in the fair valuation of fund investments. In this section, the Forum will provide directors with important viewpoints on the rule and its implications from leading law firms, accounting firms, and consultants. This section also will include MFDF programs, such as webinars and white papers. To view this resources page, please click here.

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

April 15, 2021 PwC Experts Explore Psychology Underlying Board Group Dynamics

The article identifies four overarching dynamics that can hold boards back: deference to authority, groupthink, a preference for the status quo, and confirmation bias.

April 14, 2021 Gary Gensler Confirmed as SEC Chair

Gensler is expected to take up issues important to progressives such as disclosures related to climate risks and ESG.

April 14, 2021 Fidelity, Coinbase, Square, Form Cryptocurrency Trade Group

The lobbying group said the alliance will support governments and institutions worldwide by informing and encouraging responsible crypto-related public policy, and will educate the public about crypto’s potential to create positive change.

April 12, 2021 MFDF Webinar: Registered Fund Tax: There’s Nothing to Be Afraid Of

During this webinar, Cohen & Company's team will provide a board-level discussion on tax topics that are most impactful to registered funds.

April 8, 2021 Preparing Audit Committee for Challenges; CAQ Updates External Auditor Assessments Tool

Governance experts from Deloitte acknowledged that as companies shifted to the virtual environment “boards and audit committees had to find new ways to engage with management and their auditors in order to effectively execute their oversight responsibilities.”

Upcoming Events

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April 21, 2021
Director Discussion Series - Open Forum via Zoom (Northeast)
This DDS meeting is for independent directors and CCOs based in the Northeast region to discuss timely issues with peers and experts. This Zoom meeting will be from 11:15 am - 12:15 pm (ET).
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April 28, 2021
Case Studies in Fund Oversight – A Virtual Roundtable for Directors
This virtual session will use a case study will give fund directors an opportunity to discuss new approaches to critical boardroom issues with experts and their peers in the fund industry. The program will take place on April 28-29, 2021 from 11:00 am - 1:30 pm (ET) each day. Registration for this program will open in late March 2021.
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May 4, 2021
In Focus: Board Oversight of Securities Lending
This session will focus on board oversight of securities lending with Marney McCabe, Co-head of Global Securities Lending at Brown Brothers Harriman (BBH), and Garrett Berkery, Head of Risk Management for Global Securities Lending at BBH. This meeting will be on Zoom on Tuesday, May 4, 2021 from 2 pm to 3 pm (ET).
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Newest Resources

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COVID-19 Resources for Fund Directors

MFDF aims to keep fund directors up to date on relevant regulatory and business topics during the global health crisis. This list of resources provides information on regulatory relief and guidance, commentary on legal, strategic and governance matters, as well as asset management industry news. As we update this list, we will post the updates via our Forum News Feed daily blog.

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What Fund Directors Need to Know about AI and Quantitative Investing

In March 2020, Brian Bruce, CEO & CIO of Hillcrest Asset Management, and Korok Ray, Ph.D., Associate Professor and Director of the Mays Innovation Research Center at Texas A&M University, published their paper titled "Fund Board Oversight of Artificial Intelligence and Quantitative Investments" to address mutual fund directors as they are increasingly asked to oversee funds that use artificial intelligence and quantitative methods to manage investments. With the growth of artificial intelligence and quantitative strategies such as smart beta, fund directors must understand the basis of these technologies to properly govern the funds they oversee.

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