HAUPPAUGE, N.Y. and OMAHA, Neb., Aug. 19, 2014 /PRNewswire/ -- Northern Lights Compliance Services, LLC (NLCS), a team of compliance professionals dedicated to helping mutual funds, registered investment advisers (RIAs) and broker-dealers meet their compliance requirements, has opened an office in San Rafael, Calif., to increase its capability to deliver cost-effective compliance assistance and consulting services to clients across the U.S. With offices on each coast and in the Midwest, NLCS is well-positioned to service its growing client base. Emile R. Molineaux, Senior Compliance Officer at NLCS, will lead the new office in California.
NLCS was established in 2004 by NorthStar Financial Services Group, LLC (NorthStar), to provide Chief Compliance Officer (CCO) services to mutual funds. NorthStar is a holding company for a number of subsidiaries that manage and service financial assets.
"Northern Lights Compliance Services fulfills an important role within our organization by helping our clients ensure that they have properly structured procedures to comply with applicable regulations," said Brian Nielsen, General Counsel at NorthStar. "The ongoing expansion of NLCS is a testament to the value of the cost-effective and time-efficient compliance solutions NLCS provides, which enable small and mid-sized advisers and broker-dealers to focus their efforts on growing their businesses and serving their clients."
The NLCS Advantage
NLCS provides a deep bench of compliance professionals, including attorneys, CPAs, FINRA-licensed reps and experts in commodities and derivative securities. NLCS works as a team, where CCOs support and consult with one another and are assisted in their work by a well-trained staff. NLCS believes this team approach provides certain advantages over the alternative model of an in-house, single-individual solution. In addition, NLCS has staff on site at its affiliated service providers, creating a hands-on compliance solution at the operations level. NLCS CCOs report directly to and work closely with their respective funds' boards of directors/trustees to ensure each fund is in compliance with its regulatory and board oversight requirements.
The firm's CCOs also review and assess funds' current policies and procedures, meet regularly with fund service providers, design written compliance programs for board approval, participate in all board meetings and conduct annual compliance reviews. NLCS provides CCOs for many of the mutual fund clients of its sister company, Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, and also delivers these services to clients that are not affiliated with Gemini. NLCS professionals serve as CCOs for nearly 250 funds with nearly $30 billion in assets under management.
NLCS has expanded its suite of services in recent years, providing assistance to compliance teams at RIAs and broker-dealers as a consultant. In this capacity, the firm works with RIA and broker-dealer CCOs on policy and procedure reviews, and can also conduct mock audits, produce risk assessment matrices and deliver any other necessary compliance support.
"As the regulatory environment for pooled investment solutions becomes more complex, we will continue to provide the expertise and insight that investment advisers and their sub-advisers require to meet their funds' objectives while complying with all state and federal directives," said Mike Wagner, President of NLCS. "We look forward to providing cost-effective compliance assistance for more Gemini clients and third parties across the country through our newly acquired national presence."
About Northern Lights Compliance Services, LLC
Northern Lights Compliance Services, LLC (NLCS) is dedicated to helping mutual funds, registered investment advisers (RIAs) and broker-dealers meet their compliance needs. Financial services companies that do not possess the resources to hire a qualified compliance expert dedicated to their funds or firms can solve this problem by utilizing NLCS's cost-effective and time-efficient solutions.
NLCS's compliance experts work closely with the boards of trustees of pooled investment vehicles—assessing and reviewing current policies and procedures, meeting regularly with service providers, designing written compliance programs and providing any other necessary compliance support. The firm also acts as a consultant to compliance teams at RIAs and broker-dealers.
NLCS was established in 2004 by NorthStar Financial Services Group, LLC, a holding company for several subsidiaries that manage and service financial assets. It acts as chief compliance officer to nearly 250 funds with nearly $30 billion in assets under management, and has offices in Hauppauge, N.Y., Omaha, NE and San Rafael, CA. For more information, please visit www.nlcompliance.com.
SOURCE Northern Lights Compliance Services