LPL Financial pays SEC US$18m over defective CDD

Investment adviser and broker-dealer LPL Financial LLC has agreed to settle with the US Securities and Exchange Commission (SEC) over findings that it failed to comply with its own customer information program (CIP) and ongoing customer due diligence (CDD) obligations between May 2019 and December 2023.

Investment adviser and broker-dealer LPL Financial LLC has agreed to settle with the US Securities and Exchange Commission (SEC) over findings that it failed to comply with its own customer information program (CIP) and ongoing customer due diligence (CDD) obligations between May 2019 and December 2023. [1]