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Robinhood agrees to pay $45M in SEC settlement
Robinhood has agreed to fork out $45 million to settle an investigation by the Securities and Exchange Commission over several alleged violations,
Robinhood has agreed to fork out $45 million to settle an investigation by the Securities and Exchange Commission over several alleged violations, reported the Wall Street Journal on Monday. The SEC alleged that the two units covered by the settlement — Robinhood Securities and Robinhood Financial — did not “adopt sufficient policies and procedures to protect customer information,” reported the WSJ. The Robinhood units also did not put a program in place to sufficiently protect customers against identity theft, the SEC also charged.
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