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Violation Tracker Individual Record

Company: LPL Financial LLC
Current Parent Company: LPL Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $26,000,000
Year: 2018
Date: May 2, 2018
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The North American Securities Administrators Association (NASAA) announced a settlement between LPL Financial and state securities regulators requiring the firm to repurchase from investors certain securities sold since October 2006 and to pay civil penalties of about $26 million. Each of the 49 states and the District Columbia participating were to receive $499,000.
Level of Government: state
Action Type: agency action
Agency: Multistate Financial Regulators Case
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: (click here)
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.