A $9 million payment by LPL Financial to settle a FINRA regulatory matter offers a cautionary tale for other firms, industry sources say. FINRA says it has ordered LPL Financial, the nation's No. 1 independent broker-dealer, to pay a total of $9 million for alleged "significant" email system failures and for making misstatements to the regulator. The amount includes a $7.5 million fine -- the largest ever ordered by the regulator for an email violation, a FINRA spokeswoman tells Financial Planning -- as well as a $1.5 million fund to compensate brokerage customers potentially affected by email violations, according to a FINRA statement. Brad Bennett, FINRA's executive vice president and chief of enforcement, said in a statement that "this case sends a strong message to firms to make sure your business does not outgrow your compliance systems."