Northern Lights Fund Trust, et al.
Published Date: 2/2/2026
Notice
Summary
Northern Lights Fund Trust and Ocean Park Asset Management want permission to change their subadvisor contracts without asking shareholders every time. They’re also asking to skip some usual fee disclosures about these subadvisors. If approved, this could speed up management changes and reduce paperwork, with a decision expected by late February 2026.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Subadvisor Changes Without Shareholder Vote
If you own shares in Northern Lights Fund Trust funds, the applicants asked the SEC for permission to enter into and materially amend subadvisory agreements without getting shareholder approval. This request is filed under section 6(c) of the Investment Company Act and would remove the usual requirement that shareholders vote before those subadvisory agreements are made or materially changed.
Relief From Fee Disclosure Rules
The applicants asked the SEC for relief from certain disclosure requirements so the funds would not have to provide some usual disclosures about fees paid to subadvisors (including relief from parts of Rule 20a-1, Item 19(a)(3) of Form N-1A, portions of Schedule 14A, and sections of Regulation S-X). This would change the amount of fee information the funds must disclose about subadvisory payments.
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