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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: $2,000,000
Year: 2014
Date: June 30, 2014
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: LPL Financial agreed to pay $2 million in settlement of allegations it failed to properly supervise and keep records on certain investment advice and transactions.
Level of Government: state
Action Type: agency action
Agency: Illinois Secretary of State-Securities
Civil or Criminal Case: civil
Facility State: Illinois
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.