From the Editor...

The beginning of the year is often a time for change and renewal. That's certainly the case in boardrooms across the country as directors set the year's agenda and, often times, replenish their ranks following end-of-2015 retirements and departures. Indeed, such changes are taking place at BlackRock, where shareholders will vote tomorrow on nominations for three new independent trustees; at Invesco, where two new independents joined the ranks at the end of January; and at MassMutual, where new Chairman Alan Hunter has taken the helm.

In the wider industry, folks also are moving around and taking on new responsiblities. Mutual Fund Directors Forum President and CEO Susan Wyderko has joined the Securities and Exchange Commission's Investment Advisory Committee, the only member to represent to voice of independent mutual fund directors. And Norm Champ, former director of the SEC's Division of Investment Management Division, has taken a position with law firm Kirkland & Ellis LLP in its private funds group. 

We've also got details on MFDF's and Independent Directors Council's reactions to the SEC's liquidity risk management rule proposal—and they're both generally on the same page. 

As we move forward into February, we're watching the Sivolella v. AXA Equitable Life Insurance Co. excessive fees case, which kicked off in mid-January and should wrap up in a few weeks, and we're remaining dedicated to bringing readers useful and actionable information in the fund governance space. As always, we're open to feedback—both praise and constructive criticism—and look forward to hearing from you.

For now,

Hillary Jackson, founding editor, Fund Board Views