{"id":5115,"date":"2017-11-16T03:44:23","date_gmt":"2017-11-16T08:44:23","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/?p=5115"},"modified":"2017-12-08T16:34:35","modified_gmt":"2017-12-08T21:34:35","slug":"lp-customer-compliants","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/lp-customer-compliants\/","title":{"rendered":"LP Customer Compliants"},"content":{"rendered":"<p>The New Jersey Bureau of Securities has levied a large fine against LPL Financial LLC, one of the largest independent broker-dealer in the United States. The $950,000 fine also requires LPL to donate $25,000 to the New Jersey state investor education fund. The Bureau of Securities imposed these judgments against LPL for allegedly conducting unsuitable sales of non-traded real estate investment trusts and business development companies.<\/p>\n<p><span style=\"margin: 0px; color: #222222; font-family: 'Verdana',sans-serif; font-size: 10.5pt;\">The Bureau on its settlement with LPL states; \u201cThis substantial settlement with LPL Financial sends a message that the securities industry cannot sell unsuitable investments to clients who are unlikely to be able to bear the financial risks,\u201d said Attorney General Christopher S. Porrino. \u201cThe standards governing sales of alternative investments are in place to protect investors, and the Bureau will take action when these standards are ignored.\u201d<\/span><\/p>\n<p><span style=\"margin: 0px; color: #222222; font-family: 'Verdana',sans-serif; font-size: 10.5pt;\">Generally, Federal statues regulate suitability standards and limit the sale of certain alternative investments based on a complex calculation that reflects a client\u2019s liquid net worth, or a mixture of a client\u2019s income and net worth and other factors. New Jersey also limits the maximum total ratio of alternative investments held by an individual client\u2019s portfolio to not exceed 10 percent of an investor\u2019s complete portfolio.<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/lp-customer-compliants\/\"  title=\"Continue Reading LP Customer Compliants\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The New Jersey Bureau of Securities has levied a large fine against LPL Financial LLC, one of the largest independent broker-dealer in the United States. The $950,000 fine also requires LPL to donate $25,000 to the New Jersey state investor education fund. The Bureau of Securities imposed these judgments against LPL for allegedly conducting unsuitable [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[598,588,577,592,605],"tags":[233,39],"class_list":["post-5115","post","type-post","status-publish","format-standard","hentry","category-alternate-investments","category-finra-arbitration","category-finra-disciplinary-actions","category-finra-investor-alert","category-finra-regulatory-notice","tag-brokers-in-finra-complaint","tag-lpl-financial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LP Customer Compliants &#8212; Securities Arbitration Lawyers Blog &#8212; November 16, 2017<\/title>\n<meta name=\"description\" content=\"The New Jersey Bureau of Securities has levied a large fine against LPL Financial LLC, one of the largest independent broker-dealer in the United States. &#8212; November 16, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/lp-customer-compliants\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"LP Customer Compliants &#8212; Securities Arbitration Lawyers Blog &#8212; November 16, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The New Jersey Bureau of Securities has levied a large fine against LPL Financial LLC, one of the largest independent broker-dealer in the United States. &#8212; November 16, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"LP Customer Compliants &#8212; 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