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.