Firm reaches settlement, buy-back plan for illegal sale of securities

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FINANCIAL SERVICES FIRM LPL Financial has agreed to pay a settlement of $26 million for illegally selling unregistered, nonexempt securities since October 2016. The company reached the settlement April 30 with Massachusetts and Alabama, which were lead investigators in the matter, and the North American Securities Administrators Association.
FINANCIAL SERVICES FIRM LPL Financial has agreed to pay a settlement of $26 million for illegally selling unregistered, nonexempt securities since October 2016. The company reached the settlement April 30 with Massachusetts and Alabama, which were lead investigators in the matter, and the North American Securities Administrators Association.
PROVIDENCE – The financial services firm LPL Financial LLC has agreed to pay a settlement of $26 million for illegally selling unregistered, nonexempt securities since October 2016. LPL Financial agreed to buy back at full price the unregistered, nonexempt securities, and pay 3 percent interest. LPL will submit to a full review of its compliance…

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