The Securities and Exchange Commission said two related Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative…
The Securities and Exchange Commission said two related Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges.The violations by Robinhood related to failures to report suspicious trading in a timely manner, failing to implement adequate identity theft protections, and failing to adequately address unauthorized access to Robinhood computer systems, the SEC said.
Robinhood also had longstanding failures to maintain and preserve electronic communications, failed to retain copies of operational databases, and failed to maintain some customer communications as legally required between 2020 and 2021, according to the agency.
"Today's order finds that two Robinhood firms failed to observe a broad array of significant regulatory requirements, including failing to accurately report trading activity, comply with short sale rules, submit timely suspicious activity reports, maintain books and records, and safeguard customer information," Wadhwa said.Feeling out of the loop? We'll catch you up on the Chicago news you need to know.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Powerball: See the winning numbers in Saturday’s $45 million drawingCheck your numbers to see if you hit it big in Saturday's jackpot.
Read more »
This $45 Crossbody Bag Channels Taylor Swift's Vintage StyleLooking for last-minute Christmas gift for a fashionista? Read on for details on a lookalike for a Taylor Swift-approved bag — details
Read more »
10 Stylish Gifts Under $45 That Will Arrive by ChristmasFinding last-minute gifts for stylish friends can be a challenge. This article features 10 gift ideas under $45 that will arrive by December 25th, perfect for those who procrastinate on holiday shopping.
Read more »
Furbo Dog Camera Drops to $45 for ChristmasThe Furbo 360° Dog Camera is on sale for $45, down from its original price of $99. This deal is perfect for last-minute Christmas shoppers looking for a gift for a pet owner.
Read more »
John Mayer, McG buy Jim Henson studio lot for $45 million: reportPrior to the deal, the Church of Scientology had been eyeing the studio.
Read more »
Dodgers Walker Buehler Predicted To Betray Los Angeles For $45 Million Deal CubsLos Angeles Dodgers longtime pitcher Walker Buehler could be headed out of Los Angeles for a deal with the Chicago Cubs.
Read more »