MFDF News Feed

September 15, 2025

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

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.”

September 10, 2025

The spring agenda reflects the Commission’s focus on cryptocurrencies, digital asset market structure, implementation of the Consolidated Audit Trail, customer identification programs, amendments to the custody rules, and a focus on transfer agents, among other projects.

September 9, 2025

The program will feature Ali Rivett, Sean Graber and David Freese, partners at Morgan Lewis, and will highlight practical takeaways for registered fund directors from selected SEC enforcement actions relating to the 15(c) process.

September 9, 2025

MFDF believes that recognition of such an implied private right of action would undermine the role of fund independent directors, is contrary to Congress’ intention in the 1940 Act, and would potentially open funds to excessive litigation. The brief emphasizes the role of fund independent directors in representing the interests of shareholders and underscores that the 1940 Act protects shareholder interests through director oversight rather than through private right of action.

September 4, 2025

The narrative takes the reader through the inner workings of the Vatican with fast-paced action, generous doses of art education, and the next best experience to actually visiting Venice and other European locales.

September 3, 2025

The Securities and Exchange Commission (SEC) announced that Judge Margaret “Meg” Ryan will serve as the next Director of the Division of Enforcement, effective September 2. Judge Ryan stated, "I look forward to joining the Commission in its important work to ensure that the Division is true to the SEC’s mission in taking action on behalf of investors harmed by those who break the securities laws and providing an effective deterrent against fraudulent and manipulative activities in our financial markets."

September 2, 2025

Martin Dean, President of Northern Lights Compliance LLC, and Ken Grant an independent trustee on the Unified Series Trust, will highlight priorities on compliance and board reporting that series fund trust boards should consider when fulfilling their oversight duties.

August 28, 2025

Supremacy by Parmy Olson, a technology writer for the Wall Street Journal, traces the origins of the race to dominate artificial intelligence in Silicon Valley from the pioneering early days of the key figures to the big-money battles of the present day.

August 27, 2025

The Securities and Exchange Commission (SEC) staff released an Accounting and Disclosure Information (ADI) bulletin that stated, “when reviewing CE‑FOPF registration statements, the staff will no longer provide comments requesting the registrant either (i) include accredited investor status and minimum investment requirements or (ii) limit its private fund investments to 15 percent of its assets.”

August 26, 2025

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.

August 21, 2025

In her statement, Ranking Member Maxine Waters (D-CA) stated that Republican Committee member’s support of current cryptocurrency legislation promotes the “rise of complex, poorly regulated financial instruments was precisely what sparked the 2008 crisis.”

August 20, 2025

James Lam, currently an independent director and Risk Committee Chair at Blackrock iShares, brings a commonsense approach to defining the elements of risk, evaluating the traditional risk management frameworks (such as COSO and ISO 31000), and offering a more adaptive and intuitive model for enterprise risk management.

August 19, 2025

Specifically, the executive order directs the Department of Labor (DOL) to reexamine the DOL’s guidance on a fiduciary’s duties regarding alternative asset investments and clarify the DOL’s position on alternative assets while prioritizing actions to curtail ERISA litigation in offering opportunities to plan participants.

August 14, 2025

Commissioner Crenshaw emphasized that the Administrative Procedure Act (APA) “remains intact” and governs the process by which agencies make and repeal rules, including a “prescriptive framework for promulgation and rescission.”

August 13, 2025

The SEC’s AI Task Force will be a new centralized unit dedicated to enhancing innovation, operational efficiency and regulatory accuracy through AI-driven tools and systems. Through the establishment of the AI Task Force, the SEC seems poised to incorporate AI into its back-office processes, disclosure reviews, surveillance systems and fraud detection workflows.

August 12, 2025

Part 3 of the 15(c) White Paper provides guidance to independent directors to help equip them to navigate the challenges relating to Gartenberg factors analysis during the 15(c) process, including sticky issues relating to performance, services, profitability, fees, economies of scale, fall-out benefits and independent director conscientiousness.

August 7, 2025

In part, the bill allows for an individual to qualify through an examination established by the Securities and Exchange Commission (SEC). The examination must be conducted at an appropriate level of difficulty, ensure the examinee understands the disclosure requirements of particular securities, be administered by a registered national securities association, and be offered free of charge to the public.

August 6, 2025

While the Administration’s plan covers a variety of sectors, in the financial services space the report notes that the SEC (among other agencies) should, “Establish regulatory sandboxes or AI Centers of Excellence around the country where researchers, startups, and established enterprises can rapidly deploy and test AI tools while committing to open sharing of data and results.”

August 5, 2025

The program will highlight the latest developments impacting registered and alternative funds, like accounting and financial issues, tax changes, and a regulatory update regarding the Securities and Exchange Commission.