Around the Net
Brokerage Firm Hit With $9M Fine For Email System Failures
- The Wall Street Journal, Tuesday, May 21, 2013 3:22 PM
Brokerage firm LPL Financial was fined $9 million by The Financial Industry Regulatory Authority for 35 "separate, significant email system failures," as well as for making material misstatements to regulators during their investigation. LPL is also required to establish a $1.5 million fund to compensate potentially affected clients. This is the largest penalty Finra has ever handed out for an email violation.
