Violation Tracker Individual Record

Company: 
LPL Financial LLC
Current Parent Company: 
LPL Financial
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 Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment advisory services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.