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.

Learn more about MFDF

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, 2025 PCAOB Leadership Changes Highlight Regulatory Shift

In July, Erica Williams stepped down as head of the Public Company Accounting Oversight Board (PCAOB) at the request of current Securities and Exchange Commission (SEC) Chairman Paul Atkins. It was announced on July 21 that George Botic would serve as acting Chair of the PCAOB.

July 29, 2025 Crypto Week in House Sees Passage of Three Digital Asset Bills

In response to the passage of the GENIUS Act, SEC Chairman Paul Atkins praised the work of both the House and Senate and noted, “I look forward to continuing to work to make America—already the world’s leader in financial market innovation—the center of crypto asset innovation as well.”

July 24, 2025 DC Circuit Court Decision Limits SEC’s Reach Over Proxy Firms

ISS sued the SEC, and the DC Circuit Court found that the SEC’s definitions were inconsistent with Section 14(a) of the 1934 Act. In a client alert, Stradley Ronon noted “the court held that the SEC’s definition was inconsistent with the meaning of “solicit” as Congress would have understood it to mean when adopting the Exchange Act.”

July 23, 2025 MFDF Event: Dechert to Discuss Use of Derivatives by RICs

Philip Hinkle and Katie Coghlan with Dechert LLP will share an update on the use of derivatives in RICs and what boards should know for their oversight responsibilities.

July 22, 2025 SEC Dismisses Liquidity Rule Enforcement Case Against Independent Fund Trustees

According to a client alert from Stradley Ronon, the defendants re-filed their motion to dismiss all charges arguing, “that the plain text of the statute did not grant rulemaking authority related to fund liquidity and resubmitted its arguments challenging the SEC’s failure to state a claim for aiding and abetting liability against the independent trustees.” The SEC agreed to dismiss all charges against the independent trustees with prejudice, meaning that the SEC cannot refile the charges.

Upcoming Events

Full calendar

Columbus August 20, 2025
Director Discussion Series - Open Forum (Columbus, Ohio)
MFDF will host an in-person Director Discussion Series meeting in Columbus, Ohio to facilitate discussions for independent directors and CCOs to discuss timely issues brought up by participants. The event will be in-person from 1:30 pm to 3:30 pm at the offices of Diamond Hill Investments in Columbus, Ohio.
Learn more
September 3, 2025
The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues
As part of MFDF's The Audit Committee Chair's Guide program series, John Braun, partner at Cohen & Co. and David Roeber, partner at Stradley Ronon, will discuss best practices in balancing duties, skillsets, and emerging issues governed by audit committees. The webinar will broadcast live from 2 pm - 3 pm (ET).
Learn more
September 10, 2025
Series Trust Funds - Compliance and Board Reporting
Join Martin Dean, President of Northern Lights Compliance LLC, as he discusses key priorities and best practices of compliance and board reporting cruicial to series trust fund boards' oversight role. This webinar is the second in MFDF's Series Trust Fund webinar series. The webinar will broadcast live from 2 pm - 3 pm (ET).
Learn more

Newest Resources

See all

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.

Watch Replay

Board Diversity Resources

Explore news and resources relating to fund board diversity.

Learn More