SEC Charges LPL Financial with Anti-Money Laundering Violations
6 days ago · The Securities and Exchange Commission today announced charges against broker-dealer and investment adviser LPL Financial LLC for multiple failures related to its anti-money laundering (AML) program. To resolve the SEC’s charges, LPL agreed to pay a civil penalty of $18 million and to implement improvements to its AML policies and procedures.
Wells Fargo, Merrill Lynch, LPL settle SEC charges
2 days ago · The SEC, on the same day, issued an $18 million penalty against broker-dealer and investment adviser LPL Financial over alleged anti-money laundering compliance failures. ... customers and to conduct ongoing customer due diligence to aid the government in its efforts to detect and prevent money laundering,” Stacy Bogert, associate director of ...
SEC fines LPL Financial $18M for failed due diligence on new, high …
1 day ago · Broker-dealer LPL Financial will pay $18 million to settle charges by the Securities and Exchange Commission (SEC) that its anti-money laundering (AML) program did not properly vet customers and failed to close or restrict thousands of high-risk accounts.
LPL to Pay $18 Million to Resolve Anti-Money-Laundering …
LPL Financial has agreed to pay $18 million to resolve allegations that it failed to close or restrict thousands of high-risk accounts because of lax anti-money-laundering procedures. The ...
LPL to pay $18M over AML program deficiencies
5 days ago · LPL Financial has agreed to pay an $18 million civil penalty for the SEC described as significant shortcomings in the firm's anti-money laundering program. The reported violations, which occurred ...
LPL Financial Hit with Anti-Money Laundering Violations
5 days ago · Related: SEC, Treasury Department Propose Anti-Money Laundering Rule for RIAs The SEC’s order found that LPL willfully violated Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-8.
LPL Financial to Pay $18M Fine for Anti-Money Laundering Failures
6 days ago · By Adriano Marchese. LPL Financial Holdings has agreed to pay an $18 million fine and to improve its anti-money laundering program to settle charges from the U.S. securities watchdog.
LPL Financial settles SEC anti-money laundering charges for $18 …
The SEC's order determined that LPL knowingly violated Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-8 under it. Without admitting or denying the SEC's findings, the firm ...
LPL Settles SEC Anti-Money Laundering Case for $18 Million (1)
5 days ago · Broker-dealer LPL Financial LLC failed to comply with its own policies on cannabis-related money and foreign accounts, violating key anti-money laundering rules, the US Securities and Exchange Commission said Friday.. The firm, without admitting or denying the regulator’s claims, agreed to pay $18 million to settle the allegations.It also agreed to hire a …
LPL Financial Settles Charges Involving Violation of Anti-Money ...
Sep 30, 2021 · LPL, without admitting or denying the SEC's findings, agreed to settle the charges by undertaking significant remedial measures, including the payment of over $4.1 million directly to MEDI, representing investor losses plus interest.
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