LPL Monetary stated it was among the many corporations being probed by the Securities and Alternate Fee concerning the preservation of digital communications saved on private units or messaging apps that aren’t firm-approved.

LPL, which made the disclosure in a monetary assertion dated Feb. 23, stated that it might “moderately incur losses” on account of the SEC’s sweep.

The SEC requested information from LPL in October, the agency disclosed, including that whereas it couldn’t estimate the quantity of any doable loss tied to the probe, it didn’t count on a fabric adversarial impact on its funds.