10.0David P Neuman
(720) 599-3505

LPL Financial FINED $6.5 Million for Failure to Supervise

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04
Jan

LPL Financial FINED $6.5 Million for Failure to Supervise

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LPL Financial FINED $6.5 Million for Failure to Supervise

LPL Financial Settles with FINRA for $6.5 Million Regarding Supervisor and Record Retention Failures

We are currently investigating allegations made against LPL Financial, a Fort Mill, South Carolina-based securities brokerage firm.  FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against the brokerage firm (who also has major offices in Boston and San Diego), making allegations for its failure to supervise the use of consolidated reports.  The firm was also alleged to have failed to properly retain certain records, and that it failed to adequately fingerprint and screen associated persons.

To settle these allegations, LPL Financial agreed to pay a $6.5 million fine. 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona.  We represent investors in FINRA arbitration proceedings in all 50 states.  Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past, including against LPL Financial. 

If you lost money with LPL Financial, please CONTACT US at 720-599-3505 for a free evaluation of your case.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

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