LPL Financial LLC Consent Order and Monetary Penalty

The South Dakota Division of Securities has entered into a consent order with LPL Financial LLC, a registered broker-dealer and investment adviser. The order, dated October 1, 2025, imposes a monetary penalty on LPL Financial LLC for alleged violations of South Dakota's securities laws, including potentially related to supervision and compliance failures. The specific nature of the violations and the exact penalty amount are detailed within the order.

This enforcement action requires LPL Financial LLC to comply with the terms of the consent order, which likely includes payment of the monetary penalty and potentially implementing enhanced compliance measures. Regulated entities, particularly broker-dealers and investment advisers operating in South Dakota, should review this order to understand the supervisory and compliance expectations of the Division of Securities and to ensure their own practices align with state regulations to avoid similar enforcement actions and penalties.