Northern Trust Hit With Securities-Lending Subpoena

Apr 30 2014 | 1:51pm ET

The Securities and Exchange Commission is seeking information from Northern Trust about its securities-lending business.

The bank, which is a major hedge-fund servicer, said it had received a subpoena from the SEC in a regulatory filing.  Northern Trust did not say what specifically the commission was looking at.

Northern Trust has been the subject of a number of lawsuits filed by clients of its securities-lending unit. The bank has settled several of the claims.

“We believe the securities lending practices under review are appropriate,” Northern Trust said. “We will fully cooperate with the SEC to facilitate its review.”


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note