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Home > Blog > INDIANA FINES LPL FINANCIAL FOR “DEFICIENCIES” IN SUPERVISION

INDIANA FINES LPL FINANCIAL FOR “DEFICIENCIES” IN SUPERVISION

On December 3rd, 2018, the Indiana Securities Division of the Secretary of State’s office announced that LPL Financial agreed to pay a civil penalty of $450,000 for “various deficiencies” related to supervision of its Indiana operations.

Indiana said an investigation found that LPL supervisors did not properly review a number of emails involving Indiana operations for several years. The investigation also found that LPL did not conduct annual compliance exams of its Indiana branches as required by law.

Boston-based LPL offers securities through numerous independent broker dealers across the country, including many in Indiana. If an investor has any questions about his/her dealings with LPL, or any losses in your accounts, you should contact our office for a free evaluation. We represent many individual and institutional investors in securities arbitration claims with FINRA. We are happy to give investors a no-cost, no-obligation evaluation of your specific facts and circumstances.

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