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.

November 5, 2026 SEC Releases 2027 Examination Priorities

Specifically, the exam priorities for registered investment companies include a focus on funds that hold less liquid and illiquid assets, the valuation of private assets, as well as certain products and novel strategies like BDCs and inverse and leveraged ETFs.

November 4, 2026 SEC Proposes Changes to Custody Rules

In a press release, Commission Chairman Paul Atkins noted “…today’s proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before—and replacing the grey of uncertainty created by custody rules crafted for a bygone era.”

November 3, 2026 SEC Announces Roundtable on Super Intelligence and Machine-Understandable Data

The program will feature panel discussions exploring how market participants use SI and machine‑understandable data, the associated risks and costs, and ways the SEC can further support and enhance the use of these technologies. Panelists include Commission staff, data experts, academics, and asset management professionals.

November 2, 2026 IM Director Daly Delivers Remarks on Responsible Retailization of Private Assets

Director Daly’s remarks touched on the “Responsible Retailization” of alternative investments. In his remarks, Director Daly noted that many retail investors miss out on the returns provided by companies prior to going public. The Commission’s Responsible Retailization Initiative relies on “a three-legged stool approach” which includes access, transparency, and incentives.

October 29, 2026 MFDF Webinar: SEC Enforcement and Exams Update

Dechert partners Catherine Botticelli, Anthony Kelly, and David Kotler will discuss recent developments in SEC Enforcement actions, trends in SEC exams, and a breakdown of Chair Atkins’ priorities in each of these areas.

Upcoming Events

Full calendar

November 9, 2026
In Focus - Usage of AI in the Boardroom
MFDF is pleased to partner with Willkie to offer a 3-part In Focus series on Board Oversight and Usage of AI, a confidential virtual discussion specifically designed for current RIC independent directors and CCOs. This last discussion will focus on the board's usage of AI in the boardroom. This virtual session will be on Zoom from 3:30 PM to 4:30 PM (ET). Spaces are limited.
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November 16, 2026
Audit Committee Roundtable
In November 2026, MFDF's Audit Committee Roundtable will meet to discuss building effective relationships between the board and its independent auditors.
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November 18, 2026
Nom/Gov Committee Roundtable
In November 2026, MFDF's Nom/Gov Committee Roundtable will discuss board refreshment mechanisms such as retirement ages, term limits, advisory and emeritus director roles, and others.
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Newest Resources

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November 5, 2026

Webinar Archive: Mutual Fund CCO Compensation - The MPI Annual Survey

MPI highlights findings from its latest "Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices." This webinar originally aired on November 4, 2026.
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November 3, 2026

Webinar Archive: ETF US Market Analysis and Tax Considerations

As part of MFDF's ETF webinar series, Barrington Partners will discuss their latest report on U.S. ETF Market Analysis and ETF tax considerations that are pertinent to independent directors of RIC boards. This webinar originally aired on November 2, 2026.
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October 23, 2026

Webinar Archive: Modernizing Fund Board Communications: Policies, Security, and Recordkeeping

Skadden partners outlined core frameworks and practical considerations to help independent fund directors evaluate and update their board communication practices and policies. This webinar originally aired on October 22, 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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