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Violation Tracker Individual Record

Company: Investment Centers of America, Inc.
Current Parent CompanyLPL Financial
Parent at the Time of the Penalty Announcement subscribe to see this data field
Recap of Ownership Changes subscribe to see this data field
Penalty: $363,500
Year: 2005
Date: October 10, 2005
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: NASD has fined eight broker-dealers-including seven retail firms and one mutual fund distributor- more than $7.75 million for directed brokerage violations.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment advisory services
Source of Data: NASD Charges Eight Firms with Directed Brokerage Violations, Imposes Fines Totaling More Than $7.75 Million, PR Newswire, October 10, 2005 (via Nexis).
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.