Robinhood Markets Inc. is in talks to pay a fine to settle investigations into its options-trading practices and outages the stock-trading app suffered in March 2020, according to a securities filing.
The Securities and Exchange Commission, state regulatory authorities and the Financial Industry Regulatory Authority, Wall Street’s self-regulatory arm, are examining Robinhood’s conduct in those matters, including how Robinhood “displays cash and buying power to customers and its options trading approval processes,” the company said in the filing.
Separately, New York’s financial regulator and attorney general, among other regulators, are looking into instances of unauthorized actors taking over the accounts of Robinhood users. Two subsidiaries—Robinhood Financial and Robinhood Securities—are currently negotiating a settlement with Finra over the outages and the options-trading practices, which could include charges of violations of Finra rules, a fine, restitution to customers and the hiring of a compliance consultant.To Read the Full Story
baby's first settlement with regulators. so sweet
Robinhood was stealing to the rich to give to the poor.
I love how fines can just be added into the cost of business
Please help us and it is being exploited to 6 million high school students doing Turkey Education Minister Ziya Selcuk, please, I beg you, I and the voice of 6 million high school students like me. Please retweet please WHOSaveTurkishStudents ziyaselcukistifa
POTUS strong investigation should be done against RobinhoodApp
Well you don’t settle if you didn’t do anything wrong. AmIRight.
I did not know that Steve Perry was working for RobinHood.
Goth Cousin Greg.
What a joke capitalism feels like 👍 Should have been in jail by now
Eroding trust in the financial system
Yeah, that’ll sure teach em to not fuck with money made legitimately 🙄
This can't be..
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