Self-regulatory organization (SRO) FINRA has fined online brokerage Robinhood Financial $57 million and required $12.6 million in restitution to investors allegedly harmed by the firm, which says that it has improved its platform stability, and neither admits nor denies the charges of the settlement. “The sanctions represent the largest financial penalty ever ordered by FINRA… Read More >>
Elizabeth Warren Asks FINRA to Probe Robinhood
Robinhood’s Role in the Gamestop Frenzy Under Scrutiny Wall Street critic and U.S. Senator Elizabeth Warren (D-Mass.) has called on self-regulatory organization FINRA to “respond to Robinhood’s role in recent market volatility, its decision to cut off customers’ trading, and the broader concerns about market fairness that these events represent.” Warren is referring to discount… Read More >>
Robinhood Financial Pays $65M to Settle SEC Case
Robinhood Financial LLC, a Silicon Valley brokerage company founded by two Stanford University grads, Vladimir Tenev and Baiju Bhatt, will pay $65 million to settle charges that it misled its investors by making “material misrepresentations and omissions,” according to a cease-and-desist order from the U.S. Securities and Exchange Commission (SEC). Robinhood Financial “provides online and… Read More >>
