Indiana NewsLocal News

Lawson fines LPL Financial

Connie Lawson (Photo supplied/Indiana Secretary of State's office)

INDIANA (WOWO): The Indiana Secretary of State has fined a national investment and wealth management broker with locations in Fort Wayne over failures related to the supervision of its operations in Indiana.

Secretary of State Connie Lawson today announced a settlement with LPL Financial, which includes a civil penalty of $450,000. The settlement specifically focuses on email review and branch audit requirements.

Over the past several years, a software glitch caused LPL supervisors to not properly review a select number of emails. The investigation also found that LPL didn’t conduct annual compliance exams of its Indiana branches, as required by law.

LPL also agreed to a conduct a 3rd party compliance review of its policies and procedures in Indiana to ensure that they comply with state law.

Related posts

UPDATE: LaGrange Co. Police Arrest Alleged Meth Dealer

Kayla Blakeslee

BMV Reminds Owners of Scooters, Mopeds to Register Vehicles

Kylie Havens

Allen County Sheriff’s Department now hiring new police officers

Brooklyne Beatty

Leave a Comment