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Popular Trading Platform Robinhood Plans To Settle The SEC Allegation With $65 Million

Mary Liu

Summary: Robinhood, a popular stock and crypto trading platform, has agreed to settle the SEC's allegation with $65 million. The US Securities and Exchange Commission (SEC) announced the news today. SEC accused Robinhood of misleading statements and material omissions in customer communications (including the FAQ page on its website) between 2015 and the end of 2018. The ...

Robinhood, a popular stock and crypto trading platform, has agreed to settle the SEC's allegation with $65 million. The US Securities and Exchange Commission (SEC) announced the news today.

SEC accused Robinhood of misleading statements and material omissions in customer communications (including the FAQ page on its website) between 2015 and the end of 2018. The platform did not disclose its payment receipts for sending customer orders to trading companies, and unable to perform the duty of seeking the best reasonably available terms to execute customer orders. Robinhood is in trouble with lawsuits recently, Bitpush previously reported that the securities regulator in Massachusetts is preparing to sue the company.

By Mary Liu

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