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October 31, 2018
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Blog, Current Investigations
FINRA Sanctions LPL for Complaint Reporting Violations and AML Program Failures According to the Financial Industry Regulatory Authority (FINRA) this week, the regulator has fined LPL Financial LLC $2.75 million for complaint-reporting and anti-money laundering program failures over a three year period. FINRA’s
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May 3, 2018
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Blog, Current Investigations, Securities Fraud
LPL Financial Settles Charges with State Regulators According to a press announcement, LPL Financial has agreed to pay up to $26 million to settle charges from state regulators for alleged negligence in supervising sales of unregistered securities to thousands of investors over 12 years. LPL Financial, the largest
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April 25, 2018
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Blog, Current Investigations
FINRA Sanctions LPL Financial for Supervisory Issues According to the Financial Industry Regulatory Authority on February 6, 2018, LPL Financial LLC (CRD #6413, Boston, Massachusetts) was issued an AWC in which the firm was censured and fined $375,000. Without admitting or denying the findings, LPL Financial consented
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April 20, 2018
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Blog, Current Investigations, Securities Fraud
Li-Lin Hsu –aka Yilin Hsu – Ameriprise – Los Angeles, CA – Investigation According to an article yesterday in My News LA, former Ameriprise financial advisor Li-Lin Hsu has been charged with fraud and money laundering. Instead of investing clients’ funds as promised, Hsu allegedly used the money
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April 5, 2018
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Blog, Current Investigations, Securities Fraud
FINRA Bars Laura Ortega Shean for using client funds to pay her taxes. According to the Financial Industry Regulatory (FINRA), the regulator has barred former LPL Financial advisor, Laura Ortega Shean for using client funds to pay her own taxes. According to a letter of acceptance, waiver and consent, from March
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January 18, 2018
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Current Investigations, Securities Fraud
Investigating Potential Claims Involving Charles Fackrell and LPL Financial According to the Financial Industry Regulatory Authority (FINRA), a FINRA Dispute Resolution panel has ruled that LPL Financial must pay $462,000 in connection with a Ponzi scheme perpetrated by one of its former brokers. Although the
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October 31, 2017
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Blog, Current Investigations, Securities Fraud
New Jersey Settlement alleges excessive amounts of alternative investments According to reports, the New Jersey Bureau of Securities fined LPL Financial $950,000 and ordered it to pay $25,000 to a state investor education fund. According to the settlement, there was a lack of supervision in regards to suitability
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October 30, 2017
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Blog, Current Investigations
Update: NC Fines LPL for Charles Fackrell Ponzi Scheme Did you lose money investing with Charles Fackrell and LPL Financial? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim. According to reports, the state of North Carolina has fined LPL
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May 23, 2017
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Securities Fraud
Former clients of LPL Financial are fighting the firm and their broker, Jason N. Anderson in Beaumont, Texas. Plaintiffs Elijah Denson and Olan Weeks of Beaumont, Texas, seek more than $1 million in damages on behalf of “hundreds” of current and former clients of Jason N. Anderson, at LPL Financial in a
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May 4, 2017
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Current Investigations
LPL may have to refund $8 Million for sales of nontraded REITs According to Investment News, LPL Financial could end up refunding $8 million to clients for sales of nontraded real estate investment trusts (REITs). LPL and New Hampshire Bureau of Securities reached a settlement in December 2015 due to a complaint from
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