SAN DIEGO, May 21, 2013 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq:LPLA) (the "Company"), parent company of LPL Financial LLC ("LPL Financial"), today issued a statement regarding FINRA's announcement of its settlement with LPL Financial concerning email management. The statement is as follows: "In September 2011, we reported to FINRA issues relating to the surveillance and retention of emails. We cooperated fully with FINRA throughout its ensuing investigation. We recognize the importance of having effective policies, procedures and systems to review and retain emails, and we very much regret our lapse of oversight. We have undertaken a comprehensive redesign of our email systems and associated compliance policies and procedures, and have engaged independent experts to assess and validate our approach. FINRA's action identified that certain LPL personnel had information that would have uncovered the DBA issue earlier than senior management was aware and we have taken steps to train our employees on escalating compliance issues. As noted in the Company's quarterly report for the three months ended March 31, 2013, the Company recorded an expense related to the expected settlement of the FINRA matter in the Company's financial statements as of and for the three months ended March 31, 2013. Therefore, the Company does not anticipate any related charges in its operating results for the current quarter." Forward-Looking Statements Statements in this press release regarding the Company's expectations regarding future charges relating to LPL Financial's settlement with FINRA constitute forward-looking statements and are not guarantees of future performance. Actual results may differ significantly from those expressed or implied in forward-looking statements due to known and unknown risks and uncertainties, which may include, but are not limited to, actual levels of expenses, including professional services expenses, exceeding amounts accrued as of and for the three months ended March 31, 2013, the timing of such expenses, and the level of participation by eligible claimants in the escrow account to be established pursuant to the settlement. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements whether as a result of new information, future developments or otherwise, even if the Company's expectations change, and you should not rely on those statements as representing the Company's view as of any date subsequent to May 21, 2013.