{"id":1714,"date":"2015-09-23T18:03:26","date_gmt":"2015-09-23T18:03:26","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/09\/lpl_to_pay_32m_over_nontraded"},"modified":"2022-03-11T13:40:47","modified_gmt":"2022-03-11T19:40:47","slug":"lpl-to-pay-32m-over-nontraded","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/lpl-to-pay-32m-over-nontraded\/","title":{"rendered":"LPL to Pay $3.2M Over Nontraded REIT and ETF Sales"},"content":{"rendered":"<p>\t\t\t\tLPL Financial (LPLA) has agreed to pay 3.2 million fine to settle penalties related to its sale of nontraded real estate investment trusts and leveraged exchange-traded funds.  The settlements were reached with the Non-Traded REIT Task Force of the North American Securities Administrators Association and regulators in Massachusetts and Delaware. The firm sold the REITs at issue for six years beginning in 2008.<\/p>\n<p>Under the agreement, LPL will pay $1.425 million in civil penalties for its purported failures to put into place a supervisory system that was adequate enough to handle its nontraded REIT sales and enforce written procedures related illiquid trust sales. The money will be divvied up between the District of Columbia, 48 states, the U.S. Virgin Islands, and Puerto Rico.  By settling with NASAA, LPL is not denying or admitting wrongdoing.<\/p>\n<p>Also, the Delaware Attorney General and the Massachusetts Attorney General have arrived at their own settlements with LPL&#8217;s Boston arm. The firm consented to pay $1.8 million for putting about 200 clients from Massachusetts in high-risk leveraged ETFs. The broker-dealer and Massachusetts had come to an earlier settlement about nontraded REIT sales two years ago.<br \/>\n <a href=\"https:\/\/www.investorlawyers.com\/blog\/lpl-to-pay-32m-over-nontraded\/#more-1714\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LPL Financial (LPLA) has agreed to pay 3.2 million fine to settle penalties related to its sale of nontraded real estate investment trusts and leveraged exchange-traded funds. The settlements were reached with the Non-Traded REIT Task Force of the North American Securities Administrators Association and regulators in Massachusetts and Delaware. The firm sold the REITs [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3877,4014,3759],"tags":[3542],"class_list":["post-1714","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-lpl-financial","category-non-traded-reits","category-reits","tag-ex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LPL to Pay $3.2M Over Nontraded REIT and ETF Sales &#8212; Investor Lawyers Blog &#8212; September 23, 2015<\/title>\n<meta name=\"description\" content=\"LPL Financial (LPLA) has agreed to pay 3.2 million fine to settle penalties related to its sale of nontraded real estate investment trusts and leveraged &#8212; September 23, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/lpl-to-pay-32m-over-nontraded\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"LPL to Pay $3.2M Over Nontraded REIT and ETF Sales &#8212; 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