Robinhood has agreed to a settlement with the SEC for $45 million over violations in data protection, investigation of suspicious transactions, and cybersecurity vulnerabilities from 2020 to 2022 🔐

Robinhood has agreed to a settlement with the SEC for $45 million over violations of securities laws. The company failed to conduct timely investigations into suspicious transactions and did not provide adequate protection for clients' personal data. Additionally, in 2021, a vulnerability was discovered that compromised user data. Robinhood Securities will pay a fine of $33.5 million, and Robinhood Financial will pay $11.5 million. Both companies have admitted guilt and have committed to conducting internal audits.