The Financial Industry Regulatory Authority (FINRA) fined LPL Financial $6.5 million following yet another Acceptance, Waiver, and Consent agreement (AWC) with the firm. AWCs allow advisors to consent to FINRA’s findings without admitting or denying the findings. In their latest AWC, LPL Financial consented to the findings that they failed to supervise and maintain appropriate…

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FINRA Disciplinary Actions November 2019 When brokers violate FINRA rules or federal securities regulations—by borrowing money from customers, forging documents, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full November 2019 report can be viewed…

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