LPL Financial has agreed to pay a total of $26 million split among Wisconsin and other states and U.S. territories to end allegations that it failed to prevent the sale of unregistered securities to its clients.
Under the settlement agreement, the Boston-based financial broker-dealer (Nasdaq: LPLA) will pay $499,000 to each state and U.S. territory. California has opted not to participate in the settlement, LPL said in a statement Wednesday.
