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.

June 23, 2026 Commissioner Peirce Offers Commentary on Prediction Markets

In particular, Commissioner Peirce noted that prediction markets, in which participants buy and sell contracts related to the outcome of future events, have rapidly transitioned from a niche area to one that is receiving major market attention among economists, regulators and market participants.

June 22, 2026 Morningstar Report Sees Problems in Incentive Fee Structures in Some BDCs

The report points out, among other things, that inconsistent disclosure practices are common with incentive fee products; incentive fee structures can incentive manager risk taking; some funds may materially understate their fees; and cost comparisons can be difficult for everyday investors given the different disclosure practices and incentive fee structures.

June 18, 2026 SEC Chairman Paul Atkins Discusses Disclosure Reform and Modernization Efforts on “Material Matters” Podcast

Division of Corporation Finance Director Jim Moloney emphasized that many SEC rules were developed decades ago and may no longer reflect current technologies, markets, or business practices. He compared the accumulation of disclosure requirements to “30 coats of paint on a banister,” suggesting that disclosure obligations have evolved in a way that does not promote clear disclosure to investors

June 17, 2026 MFDF Webinar: Series Trust Funds – Audits

The session provides a practical, board‑level perspective on the audit process, emphasizing the issues most critical to audit committee oversight, fiduciary responsibility, and evolving regulatory expectations. The program is designed specifically for audit committee directors and independent trustees overseeing series trust fund complexes, but independent fund directors are likely to find valuable takeaways.

June 16, 2026 SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies

Public companies would have the option to take either filing approach, with Form 10-S replacing Form 10-Q for those selecting that option. New Form S would require narrative disclosures and financial information that are similar to those included in Form 10-Q, but for a six-month period.

Upcoming Events

Full calendar

June 24, 2026
Directors of Color Roundtable
In June 2026, MFDF's Directors of Color Roundtable will meet for a discussion of allyship.
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June 25, 2026
Series Trust Funds - Audits
As part of MFDF's Series Trust Funds program series, this session features a board‑focused overview of series trust fund audits, highlighting key risks, oversight responsibilities, and best practices for audit committee directors on series trust boards. The webinar will broadcast live from 2 pm - 3 pm (ET).
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July 7, 2026
Follow the Yellow-Brick Road: Charting a Course in the Valuation of Alternative Assets
As part of MFDF's Board Oversight of Alternative Investments Series, this webinar will outline key considerations for independent fund directors related to valuation, concentration, and diversification issues for registered funds holding alternative assets. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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June 18, 2026

Webinar Archive: Financial Statement Review for RIC Boards - What Independent Directors Need to Know

Deloitte's latest webinar for MFDF will provide RIC board independent directors with a practical overview of fund financial statements and the key areas that warrant heightened attention. This webinar aired on June 17, 2026.
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June 3, 2026

MFDF Spotlight Archive: Authorized Participants and Market Makers - Helpful Takeaways for Fund Boards

As part of MFDF's ongoing ETF oversight series, this MFDF Spotlight webinar will discuss how ETFs utilize APs and market makers, including how those relationships form initially and then may evolve over time. This webinar aired on June 2, 2026.
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May 22, 2026

Webinar Archive: Mutual Fund Director Compensation: The MPI Annual Survey (2026)

This webinar will summarize the findings from MPI's recent annual "Survey of Mutual Fund Director/Trustee Compensation and Organizational Practices." This webinar aired on May 21, 2026.
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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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