Ex-insurance agent at heart of alleged $2.5 million fraud
Julie Ann Moskin and Retire Happy received fees for selling dubious securities, according to Massachusetts Secretary of the Commonwealth William Galvin
December 23, 2020
A former insurance agent is at the center of an alleged $2.5 million retirement fraud that was based on the sale of unregistered securities, according to a complaint filed yesterday by the Massachusetts Securities Division, led by Secretary of the Commonwealth William Galvin.
The agent, Julie Ann Minuskin, and her business, Retire Happy, were based in Las Vegas, Nevada, according to the complaint, where she was a licensed insurance agent from 2012 to 2020. She was the sole managing member and agent of the firm.
Robinhood interpelée par la SEC | Finance et Investissement
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Robinhood is an app-based stock trading platform marketed to younger investors, with approximately 13 million customer accounts. Robinhood’s stated mission is to “democratize finance for all” and its website touts “investing for everyone.” Its median customer age is 31, and its advertising features young people like a “broke college student” and others who profess they knew nothing about investments but learned as they went after joining Robinhood.
In response to an investigation by the Securities and Exchange Commission, Robinhood agreed to pay $65 million on December 17, 2020. The SEC claimed that Robinhood engaged in “repeated misstatements that failed to disclose the firm’s receipt of payments from trading firms for routing customer orders to them, and with failing to satisfy its duty to seek the best reasonably available terms to execute customer orders.” The SEC’s order details Robinhood’s mi
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One Robinhood super-user has made a whopping 12,748 trades since February - or 92 per day, according to the Massachusetts regulator s complaint against the trading app
One Robinhood super-user has made a whopping 12,748 trades since February - or 92 per day, according to the Massachusetts regulator s complaint against the trading app
Matthew FoxDec 18, 2020, 02:49 IST
Drew Angerer/Getty Images
One
Robinhood user in Massachusetts made an eye-popping 12,748 trades since February, according to the state s complaint, which alleges the popular
investing app encouraged inexperienced investors to execute trades frequently.
The complaint against Robinhood was filed on Wednesday and also detailed how the brokerage firm popular among younger investors failed to supervise the review and approval of
Robinhood under pressure for bringing ‘gamification’ to investing
The free trading app has been applauded for democratizing the market but critics, and regulators, are starting to take a closer look
December 18, 2020 5 MINS
Robinhood was criticized this week for its use of gamification strategies to attract young investors in a complaint filed by the Massachusetts Securities Division that alleged the fintech manipulated its customers, many of whom are novice investors, into excessive trades.
The regulators defined gamification as the application of typical elements of game playing to other activities, typically as a marketing technique to boost engagement with a product or service.
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