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the Mutual Fund
Directors Forum on Best Practices and Practical Guidance for Mutual Fund Directors" in July 2004. The report was well received by the SEC. Frequently, members of the Forum's staff are consulted and quoted by the financial press in news stories concerning mutual fund directors and the mutual fund industry as a whole. In addition,
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to prepare best practice guidance in key areas of director decision-making, such as monitoring fees and conflicts, overseeing compliance, and important issues such as valuation and pricing of fund portfolio securities and fund shares. In response to this request, the Forum published its "Report of
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Although all persons in the mutual fund industry are able to participate in the Forum's events, actual membership in the Forum is restricted to independent directors or trustees of mutual funds. Today, the Forum's primary activities are the creation and production of educational programs, the
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Significantly, in 2002, the Mutual Fund
Directors Forum applied for and received an exemptive order from the SEC allowing the payment by mutual funds, pursuant to the authorization of their boards of directors, of the dues of their independent directors for membership in the Forum, as well as
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72:, which prohibit funds from participating in joint transactions with affiliated persons on a basis different from or less advantageous than that of any other participant.
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207:, Concerning Regulatory Reforms to Protect Our Nation's Mutual Fund Investors, before the Senate Committee on Banking, Housing and Urban Affairs, November 18, 2003
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letters by Forum staff on topics important to the mutual fund industry have appeared in the Wall Street
Journal and mutual fund industry publications.
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guidance, and advocacy on behalf of its members. For example, in 2003, the Forum was asked by the then SEC Chairman
219:, July 28, 2004, "Chairman William H. Donaldson Thanks Mutual Fund Directors Forum for Its Best Practices Report".
211:"Report of the Mutual Fund Directors Forum on Best Practices and Practical Guidance for Mutual Fund Directors"
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Forum-related expenses; and finding that these payments do not violate
Section 17(d) and Rule 17d-1 of the
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40:(SEC) and the mutual fund industry. The council was convened in 1999, in response to SEC chairman
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Mutual Fund
Directors Forum Library, "Reports and Best Practices Guidance"
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SEC Speech: Mutual Fund
Directors Education Council Conference
90:"Chairman Harvey L. Pitt Praises Mutual Fund Directors Forum"
20:(MFDF) is a non-profit organization serving independent
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Professional associations based in the United States
205:Testimony of William H. Donaldson, Chairman, SEC
38:United States Securities and Exchange Commission
32:The MFDF was formed in 2002, growing out of the
223:SEC No Action Letter, Reference No. 2002418931
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225:, File No. 132-3, pub. avail. May 9, 2002
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34:Mutual Fund Directors Education Council
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92:(Press release). SEC. 2002-05-20
24:directors in the United States.
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217:SEC Press Release 2004-101
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22:mutual fund
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126:2007-11-30
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119:(Speech).
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250:Category
28:Overview
70:of 1940
76:Notes
59:op-ed
162:MFDF
140:MFDF
16:The
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