MFDF Files SCOTUS Amicus Brief

On September 3, 2025, MFDF filed an amicus brief with the Supreme Court, urging it not to recognize an implied private right of action under the Investment Company Act.

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.

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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.

September 18, 2025 Ropes & Gray Discusses Greenwashing Legislation Trends

In a recent Viewpoints article, Ropes & Gray attorneys discuss the intersection between the legal implications of anti-greenwashing legislation—and related pressures—and the continued need to communicate effectively.

September 17, 2025 SEC-CFTC Joint Statement on Crypto

The statement highlights the agencies’ view that “current law does not prohibit SEC- or CFTC-registered exchanges from facilitating trading of these spot crypto asset products.” According to the statement, “[a]s market participants prepare to submit any necessary registrations, proposals, or requests for appropriate relief to the SEC and/or CFTC, the Divisions stand ready to engage regarding any questions.”

September 16, 2025 Harvard Paper Discusses Risks in “Retail Private Funds”

The author focuses on two primary risks, questioning the reported returns of these funds and the differences between the funds sold to wealthier investors vs. the funds sold to the broader market. The paper offers several policy implications based on its findings, including steps the SEC may take to address these risks.

September 15, 2025 Event of Interest: ACA to Host Virtual Event on AI in Research and Compliance

The program will highlight how research and compliance teams are using AI to manage material non-public information (MNPI) risks, off-channel communications, and audit readiness.

September 11, 2025 Highlights of Proxy Season Show Continuing Shift Away from ESG

Debevoise & Plimpton recently released a memo summarizing the 2025 proxy season in the wake of SEC guidance affecting shareholder engagement and activism and U.S. government initiatives. Debevoise noted that “revised proxy advisor and institutional shareholder guidelines were cause for many companies to review their DEI initiatives and related disclosures.”

Upcoming Events

Full calendar

September 29, 2025
Risk Management Essentials for RICs and Boards
As part of MFDF and Deloitte's Oversight of Risk Management webinar series, this webinar will focus on the elements of a risk management program in the investment management industry. The webinar will broadcast live from 2 pm - 3 pm (ET).
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October 14, 2025
Essential Strategies in Board Oversight of Operational Risk Management
As part of MFDF and Deloitte's Oversight of Risk Management webinar series, this webinar will focus on board oversight of operational risk management. The webinar will broadcast live from 2 pm - 3 pm (ET).
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October 15, 2025
Series Trust Funds - Effective Board Relationship with Advisers
Learn how series trust fund boards can create and maintain effective board relationships with advisers, This webinar is the third webinar in the Series Trust Funds program series. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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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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