LPL Financial was Fined by Finra.
LPL Financial was fined US $11.7 million by The Financial Industry Regulatory Authority Inc. (Finra) for failure in monitoring company’s complex product and the absent of properly anti- money laundering alert. Some investment products that Finra finds since 2007 including vary annuities, nontraded real estate investment trusts and exchange-traded funds. LPL also warned of being unable to set alert with margin call on customer investment account. (OU01/INV/6/May/15)
LPL Financial was fined US $11.7 million by The Financial Industry Regulatory Authority Inc. (Finra) for failure in monitoring company’s complex product and the absent of properly anti- money laundering alert. Some investment products that Finra finds since 2007 including vary annuities, nontraded real estate investment trusts and exchange-traded funds. LPL also warned of being unable to set alert with margin call on customer investment account. (OU01/INV/6/May/15)
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