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Robinhood pays $70 million to settle range of allegations

Robinhood pays $70 million to settle range of allegations By STAN CHOE Associated Press June 30, 2021 12:55pm Text size Copy shortlink: NEW YORK Robinhood Financial will pay nearly $70 million to settle a wide range of allegations, including that it gave customers misleading information and improperly allowed some users to make riskier trades after they lied about their trading experience. The financial penalty is the largest ever ordered by the Financial Industry Regulatory Authority, a non-governmental organization that oversees the brokerage industry, and one that reflects the scope and seriousness of Robinhood s violations, said Jessica Hopper, head of FINRA s department of enforcement.

Robinhood hit with record $93m fine for system outages and misleading customers

Robinhood hit with record $93m fine for system outages and misleading customers We’re sorry, this service is currently unavailable. Please try again later. Dismiss By Stan Choe Normal text size Advertisement Robinhood Financial will pay nearly $US70 million ($93 million) to settle a wide range of allegations, including that it gave customers misleading information and improperly allowed some users to make riskier trades after they lied about their trading experience. The financial penalty is the largest ever ordered by the Financial Industry Regulatory Authority, a non-governmental organisation that oversees the brokerage industry, and one that “reflects the scope and seriousness of Robinhood’s violations,” said Jessica Hopper, head of FINRA’s department of enforcement.

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