Commonwealth of Pennsylvania Department of Banking and Securities Consent Agreement and Order Regarding LPL Financial LLC

FILED
2025 MAR 6 AM 11:02
PA DEPARTMENT OF
BANKING AND SECURITIES

# COMMONWEALTH OF PENNSYLVANIA
# DEPARTMENT OF BANKING AND SECURITIES

COMMONWEALTH OF PENNSYLVANIA : 
DEPARTMENT OF BANKING AND : 
SECURITIES, BUREAU OF SECURITIES : DOCKET No. 25_0007(SEC-CAO)
COMPLIANCE AND EXAMINATIONS : 
v. : 
LPL FINANCIAL LLC : 

## CONSENT AGREEMENT AND ORDER

The Commonwealth of Pennsylvania, acting through the Department of Banking and Securities (“Department”), Bureau of Securities Compliance and Examinations (“Bureau”), has conducted an investigation of the business practices of LPL Financial LLC (“LPL”) and its officers and employees. Based on the results of its investigation, the Bureau has concluded that LPL has operated in violation of the Pennsylvania Securities Act of 1972, 70 P.S. § 1-101 *et seq.* (“1972 Act”). LPL, in lieu of litigation, and without admitting or denying the allegations herein, and intending to be legally bound, hereby agrees to the terms of this Consent Agreement and Order (“Order”).

## BACKGROUND

1.  The Department is the Commonwealth of Pennsylvania’s administrative agency authorized and empowered to administer and enforce the 1972 Act.

2.  The Bureau is primarily responsible for administering and enforcing the 1972 Act for the Department.

3.  LPL (CRD # 6413) is a California limited liability company with an address at 1055 LPL Way, Fort Mill, SC 29715.

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