The online broker Robinhood has agreed to pay $29.75 million as part of a settlement in response to investigations by FINRA concerning violations in the areas of oversight and regulatory compliance. Of this amount, $26 million is a fine, and $3.75 million is compensation to customers. The company failed to react to "red flags" regarding potential violations, such as trade manipulation and account hacks. Robinhood also violated customer identity verification requirements and social media oversight, leading to the spread of false information.
3/10/2025 8:25:20 AM (GMT+1)
Robinhood has agreed to pay $29.75 million for violations related to oversight and compliance standards, including trade manipulation and account hacks
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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