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Regulator Orders LPL to Pay $2M Over REITs

LPL Financial has been ordered by the Massachusetts Security Division to pay investors $2 million in restitution related to selling shares of a private real estate investment trust (REIT), reports InvestmentNews.

The state regulator maintained that LPL private REIT sales exceeded concentration limits imposed by the offering prospectus.

Read the full article from InvestmentNews here.

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