UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

_______________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

~~September~~October 2713, 2010

(~~September~~October 217, 2010)

Date of Report

(Date of earliest event reported)

True North Finance Corporation

(Exact Name of Registrant as Specified in Charter)


Delaware	333-129919	20-3345780

(State or Other	(Commission File Number)	(IRS Employer
Jurisdiction of		Identification No.)
Incorporation)

4999 France Avenue South, Suite 248, Minneapolis, Minnesota 55410

(Address of Principal Executive Offices) (ZIP Code)

Registrant’s telephone number, including area code: (952) 358-6120

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

Item 85.0102 ~~Other~~– ~~Events~~Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On ~~September~~October 217, 2010, the ~~SEC filed a Complaint against the~~ Company inaccepted the ~~federal~~resignations ~~district court for the District~~ of ~~Minnesota~~Christopher asClouser, ~~court~~Mannie ~~file no. 10-CV-3995 (DWF/JJK). As anticipated~~Jackson, ~~and~~Philip ~~as previously disclosed~~Jones, ~~the~~Constantine ~~Complaint alleges that the Company violated Section 17(a) of the Securities Act of 1933 (~~“~~Securities Act~~Deno”) ~~and Sections 10(b)~~Macricostas, ~~13(a),~~Richard ~~13(b)(2)(A) and 13(b)(2)(~~B). ~~of the Securities Exchange Act of 1934 (“Exchange Act”) an Rules 10b-5~~Hirst, ~~12b-20,~~John ~~13a-1~~Klinkenberg, and ~~13a-13~~Douglas ~~thereunder. The~~Lennick ~~Complaint was filed in connection with alleged violations of federal securities laws stemming~~ from the ~~accrual~~Board of ~~income on heretofore written-off real estate loans~~Directors. ~~The Complaint also includes several former and current officers of the Company.~~

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRUE NORTH FINANCE CORPORATION
September 27, 2010	By:	/s/
Date: October 13, 2010	By:	/s/ Todd A. Duckson
		TODD A. DUCKSON
		President of the Company

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