SEC Eyes Advisory Contract Approval Disclosures

Law360, New York (May 15, 2013, 2:27 PM EDT) -- On May 2, the U.S. Securities and Exchange Commission settled an enforcement action against the board of trustees of the Northern Lights Fund Trust and the Northern Lights Variable Trust (Trusts), Northern Lights Compliance Services (NLCS) and Gemini Fund Services (Gemini) in relation to disclosure, reporting, recordkeeping and compliance violations stemming from the Trusts’ advisory contract approval and reporting process.

The settlement answers a number of questions that many within the mutual fund industry had with respect to the underlying facts of this proceeding since the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.