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Form 40-17F1 Northern Lights Fund Filed by: Northern Lights Fund Trust

September 29, 2022 4:40 PM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-17f-1

 

Certificate of Accounting of Securities and Similar

Investments of a Management Investment Company

in the Custody of Members of

National Securities Exchanges

 

Pursuant to Rule 17f-1 [17 CFR 270.17f-1]

 

 

 

 

    OMB APPROVAL      

OMB Number: 3235-0359

Expires: May 31, 2021

Estimated average burden

hours per response    1.5

 

 

1. Investment Company Act File Number:

 

811-21720

Date examination completed:

 

April 30, 2022

2. State identification Number:  
  AL 60381 AK 60091069 AZ AR   60043811 CA     CO   
CT  1113480 DE DC 60072966 FL     GA     HI     
ID  84395 IL   IN      IA   I-108810 KS 2020S0000897 KY 60021353
LA    ME 10065023 MD  SM20200590 MA MI 993783 MN  
MS 60087435 MO R2020-0231 MT  270212 NE 120220 NV    NH MF20-0082899
NJ MF-5494 NM 68852 NY    NC ND MF20-0256 OH BE1960731
OK SE-2246634 OR 2020-766 PA     RI     SC MF23578 SD   81631
TN  N2020B-1400 TX C 128173 UT  007-4964-67 VT 5/11/20-04   VA    WA  60088358
WV 106835 WI 857923 WY PUERTO RICO 60178-0
 Other (specify):

3. Exact name of investment company as specified in registration statement:

PFG Fidelity Institutional AM Equity Index Strategy Fund, a series of the Northern Lights Fund Trust

 

4. Address of principal executive office (number, street, city, state, zip code):

225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246

 

 

INSTRUCTIONS

 

This Form must be completed by investment companies that place or maintain securities or similar investments in the custody of a company that is a member of a national securities exchange.

 

Investment Company

 

1. All items must be completed by the investment company.

 

2. Give this Form to the independent public accountant who, in compliance with Rule 17f-1 under the Act and applicable state law, examines securities and similar investments in the custody of a company that is a member of a national securities exchange.

 

Accountant

 

3. Submit this Form to the Securities and Exchange Commission and appropriate state securities administrators when filing the certificate of accounting required by Rule 17f-1 under the Act and applicable state law. File the original and one copy with the Securities and Exchange Commission’s principal office in Washington, D.C., one copy with the regional office for the region in which the investment company’s principal business operations are conducted, and one copy with the appropriate state administrator(s), if applicable.

 

THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT

 

 

 

 

 

 

SEC 2205 (11-03)

 
 

SEC’s Collection of Information

 

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. Filing of Form N-17f-1 is mandatory for an investment company that maintains securities or similar investments in the custody of a member of a National Securities Exchange. Rule 17f-1 under section 17(f) of the Investment Company Act of 1940 requires the investment company to retain an independent public accountant to verify the company’s securities and similar investments by actual examination three times during each fiscal year. The accountant must prepare a certificate stating that the examination has occurred and describing the examination, and must transmit the certificate to the Commission with Form N-17f-1 as a cover sheet. The Commission uses the Form to ensure that the certificate is properly attributed to the investment company. The Commission estimates that the burden of completing Form N-17f-1 is approximately 0.16 hours per filing. Any member of the public may direct to the Commission any comments concerning the accuracy of the burden estimate of this Form, and any suggestions for reducing the burden of the Form. This collection of information has been reviewed by the Office of Management and Budget in accordance with the clearance requirements of 44 U.S.C. § 3507. Responses to this collection of information will not be kept confidential.

 

 

 

2

 
 

MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH CERTAIN PROVISIONS OF THE INVESTMENT COMPANY ACT OF 1940

 

September 28, 2022

 

We, as members of management of the PFG Active Core Bond Strategy Fund, PFG American Funds Conservative Income Strategy Fund, PFG American Funds Growth Strategy Fund, PFG BNY Mellon Diversifier Strategy Fund, PFG Fidelity Institutional AM Bond ESG Strategy Fund, PFG Fidelity Institutional AM Equity Index Strategy Fund, PFG Fidelity Institutional AM Equity Sector Strategy Fund, PFG Janus Henderson Balanced Strategy Fund, PFG JP Morgan Tactical Aggressive Strategy Fund, PFG JP Morgan Tactical Moderate Strategy Fund, PFG Meeder Tactical Strategy Fund, PFG MFS Aggressive Growth Strategy Fund and PFG Tactical Income Strategy Fund (the “Funds”), each a series of Northern Lights Fund Trust, are responsible for complying with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1, “Custody of Securities with Members of National Securities Exchanges,” of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds’ compliance with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 as of April 30, 2022, and from March 31, 2022 through April 30, 2022.

 

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 of the Investment Company Act of 1940 as of April 30, 2022, and from March 31, 2022 through April 30, 2022, with respect to securities reflected in the investment accounts of each Fund.

 

 

 

-/s/ Kevin Wolf .

Kevin Wolf, Principal Executive Officer

 

 

 

/s/ Jim Colantino

James Colantino, Principal Financial Officer

 

 
 

Report of Independent Public Accountant

 

To the Board of Trustees of

Northern Lights Fund Trust

We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance With Certain Provisions of the Investment Company Act of 1940, that the PFG Active Core Bond Strategy Fund, PFG American Funds Conservative Income Strategy Fund, PFG American Funds Growth Strategy Fund, PFG BNY Mellon Diversifier Strategy Fund, PFG Fidelity Institutional AM Bond ESG Strategy Fund, PFG Fidelity Institutional AM Equity Index Strategy Fund, PFG Fidelity Institutional AM Equity Sector Strategy Fund, PFG Janus Henderson Balanced Strategy Fund, PFG JP Morgan Tactical Aggressive Strategy Fund, PFG JP Morgan Tactical Moderate Strategy Fund, PFG Meeder Tactical Strategy Fund, PFG MFS Aggressive Growth Strategy Fund, and PFG Tactical Income Strategy Fund (the “Funds”), each a series of Northern Lights Fund Trust, complied with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 under the Investment Company Act of 1940 (the Act) as of April 30, 2022. Management is responsible for its assertion about compliance with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 of the Act (the specified requirements). Our responsibility is to express an opinion on management's assertion about the Funds’ compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management's assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management's assertion is fairly stated in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management's assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

Included among our procedures were the following tests performed as of April 30, 2022, and with respect to agreement of security purchases and sales, for the period from March 31, 2022 (the date of our last examination), through April 30, 2022:

·Confirmation of all securities held by institutions in book entry form at Bank of New York Mellon (“the Custodian”), and National Financial Services, LLC (“NFS”).

 

·Confirmation of all securities hypothecated, pledged, placed in escrow, or out for transfer with brokers, pledgees, or transfer agents.

 

·Reconciliation of all such securities to the books and records of the Funds, the Custodian, and NFS.

 

 

 
 
·Agreement of thirteen security purchases and twelve sales or maturities since our last report from the books and records of the Funds to broker confirmations

We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Funds’ compliance with specified requirements.

In our opinion, management's assertion that the Funds complied with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 of the Investment Company Act of 1940 as of April 30, 2022, with respect to securities reflected in the investment account of the Funds is fairly stated, in all material respects.

This report is intended solely for the information and use of management and the Board of Trustees of Northern Lights Fund Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 

 

COHEN & COMPANY, LTD.

Cleveland, Ohio

September 28, 2022



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