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Wysłany: Pią 3:04, 29 Lis 2013 Temat postu: LPL says it is reviewing communications monitoring |
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LPL says it is reviewing communications monitoring ,[url=http://www.ksacinc.com/christianlouboutindiscount]christian louboutin discount[/url]
WASHINGTON, May 22 () -- Regulators said unorthodox U.S. brokerage firm LPL Financial agreed to pay $7.5 million to settle charges centering on poor communications.The company was charged with making false or misleading statements to the Financial Industry Regulatory Authority and for failing to carefully monitor communications between brokers and clients.The problems are connected to the company's unorthodox structure. Instead of hiring brokers as employees, it subcontracts independent brokers. This allows the firm to reach underserved groups, including those with modest or low incomes and those living in rural settings.But it also makes it difficult for the firm to monitor what its 13,000 associated brokers are doing,[url=http://www.arch-eyes.com/]Christian Louboutin Discount[/url], The New York Times reported Wednesday.The firm's decentralized structure has helped it to grow fast -- maybe too fast, the regulator known as Finra said."As LPL grew, it did not expand its compliance and technology infrastructure,[url=http://www.arch-eyes.com/]Christian Louboutin Outlet[/url]," said J. Bradley Bennett, Finra's head of enforcement."We very much regret our lapse of oversight," LPL said in a statement."We have undertaken a comprehensive redesign of our email systems and associated compliance policies and procedures, and have engaged independent experts to assess and validate our approach," the company said.Regulators said LPL would also set aside $1.5 million to compensate clients harmed by its actions.
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