Board Leadership
Most fund boards are led by an independent board chair or an independent lead director. In 2004, the U. S. Securities and Exchange Commission adopted fund governance standards requiring, among other things, that fund boards have independent chairs. This requirement was challenged in a court proceeding and never came into effect. Nevertheless, most fund boards have adopted this practice. Today, nearly nine in 10 fund complexes have an independent director in board leadership—as the board chair or independent lead director.
FAQs and Resource Centers
Frequently Asked Questions About Mutual Fund Directors
I. Introduction to Mutual Fund Boards and Directors II. Duties and Responsibilities III. Service on...
Overview of Mutual Fund Governance
A. Fund Boards Follow Strong Governance Practices to Best Serve Shareholders Fund boards are...
Publications
Overview of Fund Governance Practices, 1994–2018 (pdf)
Video: Governance Practices
Board Self-Assessments: Seeking to Improve Mutual Fund Board Effectiveness (pdf)
Implementing the Independent Chairperson Requirement (pdf)
IDC Update: April 25, 2024
DOL Releases Final Fiduciary Investment Advice Package The Department of Labor released its final...
Webinars
SEC Enforcement Cases
IDC Update: April 25, 2024
DOL Releases Final Fiduciary Investment Advice Package The Department of Labor released its final...