Violation Tracker Individual Record
Company:LPL Financial Corp.
Date:October 26, 2009
Offense Group:financial offenses
Primary Offense:investor protection violation
Secondary Offense:financial institution supervision failures
LPL agreed to pay $1,144,416 in restitution and $150,000 in penalties in settlement of allegations it failed to properly supervise a registered investment adviser who was accused of theft of client money and promoting a Ponzi Scheme.
Level of Government:state
Action Type:agency action
Agency:Montana Commissioner of Securities & Insurance
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 of Data:
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