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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-07-26T17:16:00
LPL Financial was fined $3 million as part of a settlement with the Financial Industry Regulatory Authority (FINRA) over alleged supervision failures related to transmittal of customer funds and forged signatures by employees.
LPL, believed to be the largest independent broker-dealer in the United States, also agreed to pay $100,000 in restitution and was censured as part of FINRA’s order published Tuesday.
LPL was faulted for multiple alleged supervisory system failures that resulted in violations of FINRA rules and the Securities Exchange Act.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-12-27T20:30:00Z By Kyle Brasseur
Independent broker-dealer LPL Financial agreed to pay more than $6 million as part of a settlement with the Financial Industry Regulatory Authority addressing alleged supervision failures regarding direct business transactions and the suitability of switch transactions.
2023-10-31T16:13:00Z By Kyle Brasseur
Flooring manufacturer Mohawk Industries disclosed it does not expect to face enforcement from the Securities and Exchange Commission regarding allegations of violations of securities laws raised in a class-action lawsuit that the company agreed to pay $60 million to settle.
2023-10-04T20:35:00Z By Jeff Dale
Santander U.S. Capital Markets agreed to pay $100,000 to settle allegations by the Financial Industry Regulatory Authority regarding supervision failures related to misuse of material nonpublic information.
2024-12-02T22:55:00Z By Aaron Nicodemus
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
2024-11-26T19:59:00Z By Jeff Dale
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
2024-11-26T17:29:00Z By Aaron Nicodemus
French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.
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