The Northern Light Fund Trust and certain members of its current and former trustees as well as an unnamed chief compliance officer have received a “Wells notice” from the U.S. Securities and Exchange Commission.

According to the filing, the Wells notice relates primarily to the process by which certain investment advisory agreements between NLFT (on behalf of a small number of funds in the Trust) and their advisers were approved, and the disclosures regarding the same. Those specific funds involved are no longer offered for sale by the Trust. The Wells notice also alleges separate books and records and compliance violations.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access