SEC charges Robinhood with securities violations, brokerage to pay $45 million penalty
- Robinhood has agreed to pay $45 million to settle an investigation by the Securities and Exchange Commission for several alleged violations, reported the Wall Street Journal on Monday.
- The SEC alleged that Robinhood Securities and Robinhood Financial did not 'adopt sufficient policies and procedures to protect customer information,' reported the WSJ.
- The violations included failing to report suspicious trading promptly and inadequate identity theft protections, according to the SEC.
- The SEC emphasized that broker-dealers must satisfy their legal obligations to protect investors and market integrity.
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Total News Sources0
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
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