LPL to pay $11.7 mln sanction for "widespread" supervision failures-FINRA

May 6, 2015 1:58 PM

59 0

May 6 (Reuters) - LPL Financial Holdings Inc must pay $11.7 million for "widespread supervisory failures," including sales of a risky type of exchange traded fund and other complex securities, the Wall Street's industry-funded watchdog said on Wednesday.

The "supervisory breakdowns" also included the firm's lax surveillance of trading in customer accounts, the Financial Industry Regulatory Authority (FINRA) said.

Read more

To category page