SEC wants LPL to pony up $50 million over messaging apps, texts
'The large size of such fines underscores the point that regulators want this behavior to change quickly,' a compliance executive notes.
LPL Financial Holdings Inc. appears to be on the hook for a $50 million settlement and penalty from the Securities and Exchange Commission over compliance failures in keeping records of financial advisors' and employees' electronic communications, such as text messages and apps.
One year ago, LP
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