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.

July 30, 2026 Atkins Podcast Emphasizes the Importance of Investor Education

Director Moses noted that investing is more accessible than ever and that the Office of Investor Education and Assistance stands ready to answer questions. The Division cannot offer investment advice, but it can “help them [investors] navigate definitions and navigate problems that they might be having with their accounts or their financial services professionals.”

July 29, 2026 Commissioner Peirce Delivers Remarks on Crypto Updates

In her remarks, Commissioner Peirce noted that while cryptocurrencies are not securities, that does not mean “that the securities laws do not apply to any crypto assets or activities.” She noted that this principle holds for vaults, which allow holders of crypto assets to generate a yield on those assets by using smart contracts to allocate user assets to various yield-generating activities, including staking and lending. Commissioner Peirce noted that industry participants involved in facilitating these types of activities may want to consider whether their activities fall under the umbrella of the securities laws.

July 28, 2026 Ropes & Gray Releases Investment Management Update

In July, Ropes & Gray released a comprehensive investment management update which covers a variety of industry updates, regulatory announcements, and Securities and Exchange Commission (SEC) rule proposals.

July 27, 2026 MFDF Blog: Summer Update

For the next six weeks, the MFDF blog will reduce posts to two- to three times per week. Enjoy the remainder of your summer and keep the MFDF staff posted with any fabulous reads or adventures you are partaking in.

July 23, 2026 MFDF Board Bookshelf: 1929. Inside the Greatest Crash in Wall Street History -- and How it Shattered a Nation. By Andrew Ross Sorkin. Viking. 2025.

While there were no cliffhangers or surprises, this historical account was riveting, and we can see why it resonates with the fund director community. It’s hard to even imagine the time when markets existed without the constraints of the securities laws.

Upcoming Events

Full calendar

August 25, 2026
MFDF Member Town Hall | Year in Review & Looking Ahead (Session 2)
On August 25, Carolyn McPhillips, MFDF's President, will host an exclusive town hall for MFDF members to comment on MFDF's programs in 2026 and a look ahead to what's coming up in the next year.
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September 2, 2026
AI in the Fund Boardroom
As part of MFDF's AI for Fund Boards webinar series, K&L partners will provide practical guidance on how board members might use AI appropriately, while navigating the risks around quality concerns, confidentiality, legal privilege, and record keeping. The webinar will broadcast live from 2 pm - 3 pm (ET).
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September 9, 2026
Section 351 & ETF Formation: What Fund Directors Need to Know
As part of MFDF's ETF webinar series, this webinar will provide an overview of Section 351 exchanges, which allow investors to contribute diversified assets into a newly formed ETF. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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July 30, 2026

MFDF Spotlight Archive - New Members-Only MFDF Website Features

Leslie Beckbridge, Manager of Operations and Member Services, provides a demonstration highlighting new features available to members on mfdf.org. The webinar aired live on July 23, 2026.
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July 22, 2026

Webinar Archive - Board Oversight of Subadvisers - Regulatory and Compliance Issues

Gwendolyn Williamson, Partner at Faegre, Drinker, Biddle & Reath, and Philip Wellman, Vice President and Chief Compliance Officer, MML Investment Advisers and MassMutual Funds, discussed the compliance and regulatory issues involved in the hiring and ongoing oversight of fund subadvisers, while providing practical guidance for fund boards. The webinar aired live on July 22, 2026.
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July 21, 2026

Webinar Archive - After FS Credit: What Fund Boards Need to Know About the Supreme Court's Section 47(b) Ruling

Skadden partners highlight the Supreme Court's landmark decision declining to recognize an implied private right of action under Section 47(b) of the Investment Company Act of 1940 and what it means for fund governance and independent directors. The webinar aired live on July 20, 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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