Montana regulators target LPL REIT sales
Bruce Kelly reports that LPL management was caught off guard by news that Montana is probing the brokerage's sale of nontraded REITs.
LPL Financial LLC is being further dogged by state regulators investigating the sale of nontraded real estate investment trusts and faces a new complaint from the Montana Auditor's Department focusing on REIT sales to unsophisticated investors, according to a published report.
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