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Reports and Best-Practices Guidance
Comment Letters and Policy Positions
Speeches
Articles and Editorials
Report of the Mutual Fund Directors Forum: Practical Guidance for Directors on Board Self-Assessments
Board Self Assessment Report
Report of the Mutual Fund Directors Forum on Best Practices and Practical Guidance for Directors under Rule 12b-1–May 8, 2007.
Rule 12b-1 Best Practices and Practical Guidance for Mutual Fund Directors (pdf)
Report of the Mutual Fund Directors Forum on the Cost Implications of an Independent Chair and a 75 Percent Independent Board–August 30, 2005.
Cost Implications of Independent Chair and 75 % Ind. Board (pdf)
Report of the Mutual Fund Directors Forum on Best Practices and Practical Guidance for Mutual Fund Directors–July 28, 2004.
Best Practices and Practical Guidance for Mutual Fund Directors (pdf)
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On May 21, 2008, the Forum submitted a letter to the Securities and Exchange Commission commenting on its ETF Rule Proposal. Letter (pdf)
On May 2, 2008, the Forum Staff submitted a letter to Andrew J. Dononue, Director of the SEC's Division of Investment Management, summarizing the perspective of a number of Forum members on steps the Commission Staff and the Commission should consider to enhance the effectiveness of independent fund directors by streamlining the regulatory system. May 2, 2008 Letter to Andrew J. Donohue (pdf)
On March 20, 2008, the Forum submitted a letter to the Secretary of the Treasury laying out recommendations on how the future of mutual fund regulation should be approached, and emphasizing the important role independent directors play in that future. Forum's Letter to Treasury (pdf)
On February 28, 2008, the Forum submitted a letter to the Securities and Exchange Commission commenting on its Summary Prospectus Proposal. Letter (pdf)
On March 2, 2007, the Forum submitted a letter to the Securities and Exchange Commission pursuant to its request for more comments on investment company governance. Letter (pdf)
On March 2, 2007, the Forum submitted a letter to the Securities and Exchange Commission pursuant to its request for more comments on investment company governance. Letter (pdf)
On October 19, 2006, the Forum submitted a letter to Kerry O'Boyle at Morningstar, Inc., regarding a recent article entitled, "Golden Parachutes for Fund Directors." Letter (pdf)
On August 21, 2006, the Mutual Fund Directors Forum submitted a comment letter to the SEC on the proposed fund governance rule. Letter (pdf)
On April 12, 2006, the Forum submitted a letter to Chairman Cox, addressing the recent U.S. Court of Appeals decision. Letter (pdf)
On March 3, 2006, the Forum submitted a comment letter to the Securities and Exchange Commission regarding "Proposed Rulemaking Regarding the Internet Availability of Proxy Materials, File No. S7-10-05." Letter (pdf)
On November 25, 2005, the Forum submitted a comment letter on Soft Dollars to the U.S. Securities and Exchange Commission. Letter (pdf)
On February 17, 2005, the Forum sent a letter to SEC Chairman William H. Donaldson expressing support for the Commission's recent action that will effectively lead to most mutual fund boards being chaired by an independent director and having at least seventy-five percent of their members independent of the investment adviser. Letter (pdf)
On May 14, 2004, the Forum sent a letter to SEC Secretary Jonathan G. Katz notifying that, at the request of Chairman Donaldson, the Forum would develop a report containing "recommended best practices" for independent directors of mutual funds in certain areas in which director oversight and decision making is critical for the protection of fund shareholders. Letter (pdf)
On May 6, 2004, the Forum sent a letter to Attorney General Spitzer expressing concern regarding an apparent recommendation of the SEC Staff in the enforcement matter involving Bank of America's conduct related to the Nations Funds. Letter (pdf)
On April 22, 2004, the Forum sent a letter to Chairman Donaldson to express concern with one aspect of the Commission's March 14, 2004 press release announcing the Staff's settlement in principle with Bank of America related to late trading and market timing in certain of Bank of America's Nations Funds. Letter (pdf)
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On January 15, 2008, Andrew J. Donohue, Director of the SEC's Division of Investment Management, gave the keynote address to the Forum's Second Annual Directors' Institute in Fort Myers, Florida. Speech Text (html)
On November 8, 2007, Gene Gohlke, Associate Director in the SEC's Office of Compliance, Inspection, and Examinations gave the lunchtime address at the Forum's one-day conference, "Funds' Use of Derivatives," hosted by Columbia University and Professor Harvey Goldschmid. Mr. Gohlke's speech was entitled, "If I Were a Director of a Fund Investing in Derivatives — Key Areas of Risk on Which I Would Focus."
Forum President, Allan Mostoff, gave the opening address at the October 18, 2007 Brookings-Tokyo Seminar on the Future of Mutual Fund Regulation in the United States. Speech Text (pdf)
On March 1, 2007, Andrew J. ("Buddy") Donohue, Director of the SEC's Division of Investment Management addressed the attendees at the Forum's first annual Directors' Institute.
SEC Chairman, Christopher Cox, gave the lunchtime address on April 13th at the Forum's 7th Annual Policy Conference in Washington, DC.
Linda Chatman Thompsen, Director of the SEC's Division of Enforcement, gave the April 12th dinner address at the Forum's 7th Annual Policy Conference.
On April 12, 2007, SEC Commissioner Annette Nazareth addressed attendees at the Forum's 7th Annual Policy Conference in Washington, DC.
On February 28, 2007, Commissioner Roel C. Campos addressed the attendees at the Forum's first annual Directors' Institute.
Paul F. Roye, Director of the SEC’s Division of Investment Management, gave the keynote address at the Forum’s 5th Annual Policy Conference in Washington, DC, February 17, 2005.
Speech by SEC Chairman: Harvey L. Pitt
Remarks at Mutual Fund Directors Forum, January 8, 2003.
Chairman Harvey L. Pitt Praises Mutual Fund Directors Forum, May 20, 2002.
Speech by SEC Chairman: Arthur Levitt
Mutual Fund Directors Education Council Conference, February 17, 2000.
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In a February 11, 2008 article, "MFDF Board: Independent Directors Key to Success of Fund Industry," IM Insight discused the Forum Board's January 28, 2008
email to the membership with reactions and thoughts on the ICI’s recent recommendation to the Department of the Treasury regarding reform of the U.S. capital markets.
Article (pdf)
The Forum's Executive Director, Susan Wyderko, was quoted in the Novmber 12, 2007 Investment News article, "Fund Trustees Said to Favor Repeal of 12b-1s."
Article (pdf)
David Smith, the Forum's Executive Vice President, was quoted in the October 4, 2007 Wall Street Journal article, "The Case for Knowing Your Fund's Directors." Article- Print Version (pdf) Article- Web Version (pdf)
In its July 16, 2007 issue, the Wall Street Journal published the Forum's response to a July 6 op-ed by the AEI's Peter Wallison.
Forum Letter (pdf) Wallison Letter (pdf)
David Smith, the Forum's Executive Vice President, was quoted in the May 8, 2007 Wall Street Journal article, "Independent Directors Tackling 12b-1 Fee."
Article - Print Version (pdf)
The Forum's staff wrote a letter to the Editor, which was published in the August 8, 2006 issue of the Wall Street Journal, in response to former SEC Chairman Harvey Pitt's op-ed piece, "Over-Lawyered at the SEC" which appeared in the Wall Street Journal's July 26, 2006 edition. Forum Letter (pdf) Print Version (pdf)
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