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LPL issues urgent warning to RIAs: The SEC wolf blew down its home-office door and is combing through records for evidence of mutual fund share class misuse

Andy Kalbaugh emailed a letter to LPL advisors that file their own ADVs as a sort of fair-warning heads up

Author By Lisa Shidler July 25, 2018 at 10:37 PM
Admin:
no description available
Andy Kalbaugh: We recently complied with a regulatory inquiry from the SEC to produce mutual fund holdings over the last five years for RIAs that transact business on our custodial platforms.

Rather not Say

Rather not Say

January 11, 2019 — 3:10 PM
I have a story for u on this if your interested. I was termed from an LPL hybrid OSJ/RIA who came under SEC audit and was found deficient in its disclosures. Instead of taking responsibility, the CEO/CCO threatened to fire me for cause if I didn't participate in rebating my clients. Contact me if u want to know more.

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See more related moves

Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli

MarketCounsel | HamburgerLaw
Compliance Expert, RIA Set-up Firm, Regulatory Consultant
Top Executive: Brian Hamburger



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