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Massachusetts regulators accuse Robinhood of luring inexperienced investors, putting their assets at risk

Massachusetts regulators accuse Robinhood of luring inexperienced investors, putting their assets at risk
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United statesMohamed el erianWilliam galvinMassachusetts securities divisionJones industrial averageஒன்றுபட்டது மாநிலங்களில்வில்லியம் கால்வின்மாசசூசெட்ஸ் பத்திரங்கள் பிரிவுஜோன்ஸ் தொழில்துறை சராசரி

Massachusetts regulators expected to file complaint against Robinhood - WSJ

3 Min Read BOSTON (Reuters) -Massachusetts securities regulators on Wednesday accused the popular online brokerage Robinhood of engaging in aggressive tactics to attract inexperienced investors and failing to prevent outages on its trading platform. Massachusetts Secretary of the Commonwealth William Galvin, the state’s top securities regulator, in an administrative complaint alleged that Robinhood marketed itself to investors without regard for the best interest of its customers. Galvin said Robinhood has a duty to protect its customers and their money. Yet, the complaint said, Robinhood gave its inexperienced customers the ability to make an unlimited number of trades without first screening them.

United statesAlden bentleyJonathan oatisThomson reuters trust principlesRobinhood financialMassachusetts securities divisionWall street journalThomson reuters trustஒன்றுபட்டது மாநிலங்களில்ஆல்டன் பென்ட்லிதாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ்ராபின் ஹூட் நிதிமாசசூசெட்ஸ் பத்திரங்கள் பிரிவுசுவர் தெரு இதழ்தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை

Massachusetts Secretary of Commonwealth Galvin Says Robinhood Is a Reckless Company Gamifying Investing

The worst aspect of what they do clearly is the way they are gamifying the idea of investing, Massachusetts Secretary of the Commonwealth William Galvin told CNBC s Squawk Alley on Wednesday. This is a very reckless company when it comes to these investors. They re interested in expanding their market base, they re not interested in serving their investors, said Galvin. The complaint cites Robinhood s aggressive tactics to attract inexperienced investors, its use of gamification strategies to manipulate customers, and its failure to prevent frequent outages and disruptions on its trading platform. The complaint is the first enforcement of Massachusetts Fiduciary Rule, which Galvin began enforcing in September.

United statesWilliam galvinMassachusetts securities divisionMassachusetts secretaryCommonwealth william galvinMassachusett fiduciary ruleஒன்றுபட்டது மாநிலங்களில்வில்லியம் கால்வின்மாசசூசெட்ஸ் பத்திரங்கள் பிரிவுமாசசூசெட்ஸ் செயலாளர்காமன்வெல்த் வில்லியம் கால்வின்

Robinhood in regulators sights after surge in amateur stock trading

One of the biggest trends of 2020 in markets has been the stunning explosion in stock trading among amateur investors. It has been a phenomenon seen on both sides of the Atlantic and has been driven largely by millennials. In the UK, hundreds of thousands of young investors have this year signed up with platforms like Freetrade, attracted by commission-free trading and the chance to make more meaningful returns than they can obtain from keeping cash on deposit. Image: Dave Portnoy rechristened himself Davey Day Trader during the lockdown In the US, meanwhile, the trend has been even more pronounced. There are a couple of reasons for this.

United statesCommonwealth of massachusettsUnited kingdomAlexander kearnsDave portnoyWilliam galvinMassachusetts securities divisionTd ameritradeCharles schwabBarstool sportsDavey day traderWall street journalஒன்றுபட்டது மாநிலங்களில்காமன்வெல்த் ஆஃப் மாசசூசெட்ஸ்ஒன்றுபட்டது கிஂக்டம்அலெக்சாண்டர் கர்ந்ஸ்

Massachusetts regulators expected to file complaint against Robinhood – WSJ

Massachusetts regulators expected to file complaint against Robinhood – WSJ
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United statesAlden bentleyJonathan oatisRobinhood financialMassachusetts securities divisionWall street journalஒன்றுபட்டது மாநிலங்களில்ஆல்டன் பென்ட்லிராபின் ஹூட் நிதிமாசசூசெட்ஸ் பத்திரங்கள் பிரிவுசுவர் தெரு இதழ்