Investment firm agrees to fine and censure over sales of real estate investment trusts

PROVIDENCE – An investment firm owned by Boston-based LPL Financial LLC has agreed with Massachusetts securities regulators to pay a $50,000 fine for its alleged failure to supervise sales of nontraded real estate investment trusts, or REITs, harming at least one investor. SII Investments Inc. also agreed to “cease and desist” conduct in violation of…

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