What changed in this filing

/stocks — the workspaceLOADING

Item 3. Legal Proceedings

2021-02-23 compared with 2020-02-21 · 29 added, 20 removed, 118 unchanged (29% of the section changed)

1 unchanged sentence

From time to time, we have been subjected to and are currently subject to legal and regulatory proceedings arising out of our business operations, including lawsuits, arbitration claims, and inquiries, investigations and enforcement proceedings initiated by the SEC, FINRA and state securities regulators, as well as other actions and claims.

For a discussion of legal proceedings, see Note 14 .

Commitments and Contingencies , within the notes to consolidated financial statements in this Annual Report on Form 10-K.

For a discussion of legal proceedings, see Note 14 - Commitments and Contingencies , within the notes to the consolidated financial statements in this Annual Report on Form 10-K.

Please also see “Risk Factors - Any failure to comply with applicable federal or state laws or regulations exposes us to litigation and regulatory actions, which could increase our costs or negatively affect our reputation” and “Risk Factors – Our business is subject to risks related to litigation, arbitration claims and regulatory actions” within Part I, “Item 1A.

4 unchanged sentences

The following table provides certain information about each of the Company’s executive officers as of the date this Annual Report on Form 10-K has been filed with the SEC:

President and Chief Executive Officer

Chief Financial Officer

Matthew Enyedi

Managing Director, National Sales

Name Age Position

Arnold 56 President and Chief Executive Officer

Audette 46 Chief Financial Officer

Matthew Enyedi 47 Managing Director, Business Solutions

Edward Fandrey 45 Managing Director, Divisional President, Advisor Solutions

Andrew Kalbaugh (1)

57 Managing Director, Divisional President, National Sales and Consulting

Managing Director, Chief Human Capital Officer

Michelle Oroschakoff

Managing Director, Chief Legal Officer

Larsen 67 Managing Director, Chief Human Capital Officer

Michelle Oroschakoff 59 Managing Director, Chief Legal Officer

Scott Seese (2)

51 Managing Director, Chief Information Officer

Dayton Semerjian

Managing Director, Chief Customer Care Officer

Richard Steinmeier

Managing Director, Divisional President, Business Development

Managing Director, Investor and Investment Solutions and Chief Investment Officer

Dayton Semerjian 55 Managing Director, Chief Customer Care Officer

Richard Steinmeier 47 Managing Director, Divisional President, Business Development

White 52 Managing Director, Investor and Investment Solutions and Chief Investment Officer

____________________

Kalbaugh will be retiring from the Company in March 2021.

Seese is on a leave of absence as of the date of this Annual Report on Form 10-K.

Executive Officers

21 unchanged sentences

in accounting from Virginia Polytechnic Institute and State University, popularly known as Virginia Tech.

Matthew Enyedi — Managing Director, National Sales

Enyedi has served as managing director, national sales of LPL Financial since January 2020.

He oversees an integrated group of product and platform sales consultants focused on helping financial advisors and institutions navigate and grow in an increasingly complex financial services landscape.

Matthew Enyedi — Managing Director, Business Solutions

Enyedi has served as managing director, business solutions of LPL Financial since November 2020.

He is responsible for developing and deploying a suite of automated professional services to LPL advisors, and aligning them with the firm’s other programs that support advisors as business owners.

From January to November 2020, Mr.

Enyedi served as managing director, national sales of LPL Financial, overseeing an integrated group of product

and platform sales consultants focused on helping financial advisors and institutions navigate and grow in an increasingly complex financial services landscape.

Prior to his promotion to managing director, Mr.

5 unchanged sentences

Enyedi received a B.A.

in speech communication and business

administration from the University of San Diego.

in speech communication and business administration from the University of San Diego.

He also holds the Certified Investment Management Analyst® designation from the Haas School of Business at the University of California, Berkeley.

Edward Fandrey — Managing Director, Divisional President, Advisor Solutions

Fandrey has served as managing director, divisional president, advisor solutions of LPL Financial since January 2021.

In this role, he is responsible for leading the company’s strategic plan to expand engagement with advisors, partnering with them to utilize the firm’s evolving affiliation models, optimally leverage its tools and capabilities, and fully support their growth initiatives and other business needs.

Prior to joining LPL, he served from 2016 to 2021 as vice president of the Financial Services business at Microsoft Corporation, where he led an organization of sales, support, technology and customer success professionals driving client-centric digital transformation across leading banks, insurance companies, hedge funds and capital markets firms.

Fandrey joined Microsoft in 2000 and held various leadership roles including Chief of Staff for Worldwide Sales and Marketing.

He earned his bachelor’s degree in psychology from the State University of New York at Albany and has multiple technology and developer certifications.

Andrew Kalbaugh — Managing Director, Divisional President, National Sales and Consulting

24 unchanged sentences

She joined LPL Financial as managing director, chief risk officer in September 2013 from Morgan Stanley, and was promoted to chief legal and risk officer in June 2017.

She became chief legal officer in June 2018.

She became chief legal officer in

At Morgan Stanley, she most recently served as managing director and Global Chief Risk Officer of the firm’s Global Wealth Management Group from 2011 to 2013.

49 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 3. Legal Proceedings