Raymond Schmidt borrowed some $2.25 million from customers to build an island retreat without notifying his firm, Finra said.
CEO Mark Casady takes biggest hit; $1.5M bonus is down 41% from previous year
UPDATE: Don't fear the Fed or the greenback surge
One-time heir apparent to Mark Casady to lead asset manager Legal & General Investment Management America, an institutional money manager.
Advisers lamented news of Robert Moore's departure as a number of well-known executives have left in the past year.
Plus the latest on LPL's new collaboration with Redtail Technology, Laser App software sees continued growth and more.
FINRA announced Tuesday that it has fined LPL $7.5 million for 35 “significant email system failures,” which prevented LPL from supervising its reps, responding to regulatory requests and producing emails to customers in arbitration proceedings.
LPL Financial Holdings reported the strongest quarter in the company's nearly three years as a public company, with net revenues topping $1 billion for the first time. LPL's board of directors also announced the company's quarterly dividend would be raised 40% to 19 cents per share.
FINRA announced Tuesday that it had fined LPL $7.5 million for 35 “significant email system failures,” which prevented LPL from supervising its reps.
LPL Financial announced Tuesday that Ryan C. Parker has joined the firm as executive vice president of investment and planning solutions.