In the News

Title

Recent Fines Show Regulators Serious About Protecting Seniors

Document Type

Article

Publication Date

7-15-2015

Abstract

Recent fines against LPL Financial levied by Massachusetts financial regulators indicate that some states are serious about enforcing regulations designed to protect seniors, a group often targeted by brokers and financial advisors.

In the latest example, LPL agreed to pay a $250,000 fine to settle charges for “failure to establish and enforce review procedures” related to senior-specific titles, according to Massachusetts’ top financial regulator William F. Galvin.