MFDF News Feed

April 16, 2026

Motley who died in 2005 at the age of 84, achieved many firsts over her career and was hailed as a “civil rights trailblazer, lawmaker and judge” in her New York Times obituary. In 1966, Motley was appointed by President Lyndon B. Johnson to the U.S. District Court in Manhattan, the first African-American woman to sit on the federal bench, where she decided numerous cases in civil rights, corporate law and criminal law.

April 15, 2026

In late 2025, MFDF conducted a survey to gather information about the types of skills and backgrounds that are represented in fund boardrooms. In this spotlight webinar, Leslie Beckbridge, Operations and Member Services Manager at MFDF, will present some of the key findings from the survey report, share additional insights regarding the survey’s design and objectives, and explore how directors may draw meaning from the data.

April 14, 2026

MFDF recently hosted a webinar titled: Updates on the Role of AI in Compliance: Insights from ACA's 2025 AI Benchmarking Report. Carlo di Florio, President of ACA Group, joined MFDF to provide highlights from the report. Participants in the survey identified several key risks associated with the use of AI, including privacy and information security concerns, hallucinations, regulatory compliance challenges, and cybersecurity threats.

April 13, 2026

The session will highlight best practices for educating corporate directors on AI usage, including the use of AI-generated summaries of pre-read materials. While the event is directed toward corporate boards, independent fund directors may gain insight into how other boardrooms are utilizing AI, governance considerations, and risk management tools.

April 9, 2026

The report shows a point-in-time look at the independent directors that make up the fund board industry, and illuminates points of commonality between boards (all responding boards have at least one independent director who joined the board with existing experience serving on another type of board) as well as areas of variability among boards, such as with regard to board members serving on multiple fund boards.

April 8, 2026

The DOL rule proposal creates a “process-based safe harbor,” which names six factors that fiduciaries must thoroughly consider and determine when selecting alternatives. The non-exhaustive list of factors include: performance, fees, liquidity, valuation, performance benchmarks, and complexity.

April 7, 2026

Atkins underscored the importance of rules keeping pace with the industry, noting that innovations such as crypto could be stifled or driven offshore if the regulatory framework could not adapt. Atkins also discussed the vital importance of clarifying the “crazy quilt” of supervisory authorities, noting that the volume and density of overlapping regulatory requirements has resulted in an excessive compliance burden.

April 6, 2026

The data provided is aggregated and individual names or complex-specific data will never be revealed. Qualified participants will receive, at no charge, a summary version of the results, which is scheduled to be released in late June.

April 2, 2026

The guidance, while not formal rulemaking, provides direction on how to apply crypto assets to the Howey test, the Supreme Court standard used to determine whether a transaction constitutes an ‘investment contract’ and therefore a security subject to SEC regulation.

April 1, 2026

Management Practice’s Sara Yerkey and Kelley Howes, Partner and Co-Chair of the Investment Management Group at Morrison and Foerster LLP, plan to lead a webinar covering the latest results from MPI’s Annual Survey of Investment Firm Profitability and Economies of Scale.

March 31, 2026

MFDF recently hosted an In Focus titled Ask Anything – ETF Edition. Paulita Pike and Jessica Reece, partners at Rope & Gray, Brett Eichenberger, Market Leader, Registered Funds at Cohen & Co. and Ward Bortz, ETF Portfolio Manager and Head of Distribution for U.S. Wealth at Angel Oak Capital, joined MFDF to share their expertise.

March 30, 2026

The panelists will examine the mechanics of the ETF launch and listing cycle that highlights the main players of this process, including APs and MMs, distribution strategies, and regulatory expectations.

March 26, 2026

The program, part of the EY series “Better Questions for Boards,” will provide directors with insights and questions to consider as they engage with management on a variety of boardroom issues.

March 25, 2026

Of note for independent fund directors, the Commission issued a release amending the compliance dates for the reporting requirements added to Form N-PORT when the SEC adopted amendments to the Names Rule are extended to November 17, 2027 for registered fund complexes with net assets of $10 billion or more (instead of $1 billion) as of the end of their most recent fiscal year, and to May 18, 2028, for smaller registered fund complexes.

March 24, 2026

On dual share class issues, Bruce Leto noted that “ETF share classes are really not for every single fund” and that operational issues remain. He added that transfer agents and omnibus account holders continue to work on automated solutions for exchanges from the open-end fund class to the ETF class.

March 23, 2026

The agreement notes that the agencies will foster a closer relationship through regular meetings, data sharing, cross training of appropriate staff, and ongoing notifications to inform the other agency in advance of issues that may impact the regulatory interests under their common jurisdictions.

March 19, 2026

In his opening remarks, SEC Chairman Paul Atkins noted, “at the SEC, we are focused on what we call the ‘responsible retailization’ of post-tax, pre-retirement dollars for investors—embracing growth and innovation across all asset classes while protecting investors through guardrails that guide proper investment into these private assets.”

March 18, 2026

The article discusses each stage of the performance oversight process in detail, and includes a toolkit of possible considerations and action steps for independent directors to reference at each stage of their review. 

March 17, 2026

The session allowed attendees to work in small groups as they assessed a mock cyber incident and determined what the fund board’s response would entail. The one-pager details the risks that boards should be aware of and the outlines steps for boards to consider as they build out an effective governance framework for AI and cybersecurity.

March 16, 2026

The program will highlight key areas in the interval and tender offer fund space including regulatory updates, distribution trends, tech and transfer agency insights, and an overview of the industry outlook.