Paul Schott Stevens, president and CEO of the Investment Company Institute, this week delivered remarks at the Independent Directors Council inaugural "Foundations for Fund Directors" orientation program in Boston. "The regulated fund industry’s great success over more than three-quarters of a century is well known. So too are many of the contributing factors—like its robust regulatory framework, its constant innovation, and its wide range of inexpensive, highly diversified, professionally managed products," Stevens said. "But an equally crucial factor in the industry’s success—its unique system of governance—is too often overlooked." Read Stevens' full remarks.