The Independent Directors Council offers a robust series of programs and activities for fund directors:
- Annual Conference
Each fall, the Independent Directors Council holds an annual conference to update directors on recent developments in the industry and to provide an opportunity for directors to meet regulators and share ideas with each other. This two-day conference is geared toward experienced directors and focuses on "hot issues," as well as topics of practical interest to fund boards.
Each spring the Independent Directors Council holds a program, which highlights issues of particular interest to investment company directors. In the past, programs have focused on topics of current interest, such as oversight of risk management.
- Chapter Meetings
The Independent Directors Council reaches out to directors across the country through its regional chapter meetings. These meetings, which are offered at no cost, take place in various cities around the country and facilitate discussion among fund directors of issues that affect the industry generally and the role of directors specifically. Directors are invited to register for one or more chapters so that they will receive information concerning upcoming local events.
- Meetings with Individual Fund Boards
At the request of individual fund boards, the staff of the Independent Directors Council attend fund board meetings and offer updates on issues relating to fund governance, as well as current legislative and regulatory developments relevant to the fund industry. The presentations last approximately 30 minutes and are offered at no cost to boards of ICI member funds. If you would like to arrange one of these meetings for your board, please contact the IDC staff.
- Electronic Newsletter
Board Update is an electronic newsletter that the Independent Directors Council sends to directors. It focuses on recent developments in the industry, as well as activities of the Independent Directors Council. These communications ensure directors' awareness of developments that may affect their duties.
- Guidance on Issues of Relevance to Directors
The Independent Directors Council prepares papers to assist directors in the performance of their responsibilities. These papers focus on current issues of particular interest to independent directors. Recently published papers include Fund Board Oversight of Risk Management, Board Oversight of Subadvisers, and Board Oversight of Fund Compliance. The Independent Directors Council also sends memoranda to the director community on issues of interest and current industry developments as they occur. In the past, these memoranda have focused on matters such as court cases and rule proposals relating to governance.
- Directors Practices Study
This report includes information on director, committee and board practices, as well as director compensation and retirement plans. The study is participant-funded and the report is available only to those groups that participate in the study. The most recent study, which collected both compensation and practices data, provides information for the year-ended December 31, 2010. The study is based on responses from approximately 160 fund complexes and over 1,350 independent directors. In addition to the study results, participants may obtain customized peer reports. The next study will collect compensation data for the year-ended December 31, 2011.
- Educational Conference Calls
From time to time, the Independent Directors Council hosts educational conference calls on particular topics of interest to the independent director community. Offered at no cost to directors, these calls feature a panel discussion and a slide presentation.