{"id":6262,"date":"2018-05-04T18:01:57","date_gmt":"2018-05-04T18:01:57","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6262"},"modified":"2018-05-04T18:01:57","modified_gmt":"2018-05-04T18:01:57","slug":"lpl-financial-unregistered-securities","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/lpl-financial-unregistered-securities\/","title":{"rendered":"LPL Financial Agrees to Pay $26M Over Unregistered Securities to State Securities Regulators"},"content":{"rendered":"<p>\t\t\t\tIn an agreement reached with the North American State Securities Administrators Association, LPL Financial (LPLA) will pay $26M in fines to a number of US states and jurisdictions over unregistered securities sales going back more than a decade. NASAA reports that the settlement comes after a task force was set up last summer to probe LPL\u2019s sales of unregistered, non-exempt \u00a0securities to clients.\u00a0 Now, LPL will pay $499K to each state securities regulator. \u00a0It also must buy back certain securities that it sold to investors going as far back as October 2006.<\/p>\n<h2><strong>Details of the LPL Settlement for the Sale of Unregistered Securities\u00a0<\/strong><\/h2>\n<p>Per the settlement, LPL will offer to repurchase securities in the brokerage firm\u2019s accounts that were found to have been unregistered, fixed-income or non-exempt equity securities. Every buyback offer will come with 3% simple interest annually. Requirements were also put in place for investors with \u201caffected securities\u201d that were moved or sold from an LPL account.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/lpl-financial-unregistered-securities\/\"  title=\"Continue Reading LPL Financial Agrees to Pay $26M Over Unregistered Securities to State Securities Regulators\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In an agreement reached with the North American State Securities Administrators Association, LPL Financial (LPLA) will pay $26M in fines to a number of US states and jurisdictions over unregistered securities sales going back more than a decade. NASAA reports that the settlement comes after a task force was set up last summer to probe [&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":[3877,3741],"tags":[3067,2825],"class_list":["post-6262","post","type-post","status-publish","format-standard","hentry","category-lpl-financial","category-securities-fraud","tag-lpl-financial","tag-unregistered-securities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LPL Financial Pays $26M Settlement | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"LPL Financial paid a $26M settlement for the sale of unregistered securities to state securities regulators. 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