Express

Robinhood To Pay Approximately $70 Million In Fines Due To Regulatory Errors

Mary Liu

Summary: The popular stockbroker Robinhood was ordered by the Financial Industry Regulatory Agency (FINRA) to fined about $70 million due to regulatory errors.  FINRA stated that millions of customers have suffered extensive and significant damage, including receiving false or misleading information from the company, being affected by the company's system interruption in March 2020, and Robinhood ...

The popular stockbroker Robinhood was ordered by the Financial Industry Regulatory Agency (FINRA) to fined about $70 million due to regulatory errors. 

FINRA stated that millions of customers have suffered extensive and significant damage, including receiving false or misleading information from the company, being affected by the company's system interruption in March 2020, and Robinhood allowing thousands of unqualified customers to trade options, FINRA said the financial penalties imposed on Robinhood are the largest ever issued by the agency.

By Mary Liu

Last Update:

Tags: ,
Link: Robinhood To Pay Approximately $70 Million In Fines Due To Regulatory Errors   [Copy]
Next:

Related Articles

  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 22 hours ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 4 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 5 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 7 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 8 days ago

    • You need to login to comment.