Let's hear it for mutual fund directors. The latest MorningstarAdvisor has an interview
with Susan Ferris Wyderko
, president and CEO of the Mutual Fund Directors Forum
, a membership organization that represents independent mutual fund directors. Not surprisingly, she has good things to say about her business.
No great revelations appear in the interview -- Wyderko doesn't get very specific -- but she does say that the SEC could help boards by "emphasizing director oversight," and notes that since 2008, directors have had a tougher job, thanks to new technologies and investment products.
She also says that the SEC's decision to require all funds to have a CCO has been a real positive. She says the rule "has resulted in a significant cultural change in the fund industry that was largely unpredicted. It gives boards an invaluable channel of on-site, real-time information."
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