Washington State Department of Financial Institutions
03/17/2026 | Press release | Archived content
LPL Financial LLC
Case summary
On March 17, 2026, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-25-3997-26-CO01) against LPL Financial LLC.
Order details
Order File: S-25-3997-26-CO01
Laws & Rules: RCW 21.20.110, WAC 460-20C-150
Penalties/Remedies:
- Cease and desist;
- Censure;
- Restitution: $61,456.75;
- Fine: $25,000.00;
Certify in writing to the Securities Division within 60 days of entry of the Order that LPL's policies and procedures have been changed and enhanced to ensure that all commissions are fair and reasonable
Findings
From April 30, 2020 to April 30, 2025, the Respondent charged unreasonable commissions on approximately 127,045 equity transactions totaling $2,486,739.20, which included 1,724 accounts of residents of Washington State who were charged commissions in excess of 5% totaling $61,456.75.
The Respondent did not reasonably supervise transactions that applied the minimum equity commission.
Order file
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