Violation Tracker Individual Record

Company: 
LPL Financial LLC
Current Parent Company: 
LPL Financial
Penalty: 
$1,100,000
Year: 
2019
Date: 
June 26, 2019
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

LPL agreed to pay a $1,100,000 administrative fine in settlement of allegations it failed to properly register or supervise its agents in the state, with multiple failures to report events that would impact registration and customer complaints in a timely manner.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Massachusetts Securities Division
Civil or Criminal Case: 
civil
Facility State: 
Massachusetts
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.