Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Robinhood Will Pay $70M in Fines to FINRA Over 'Signifcant Harm' to Customers

1 min read

Robinhood Will Pay $70M in Fines to FINRA Over 'Signifcant Harm' to Customers

The online brokerage platform Robinhood will pay around $70 million in fines over “widespread and significant harm suffered by customers” regarding misleading communications and system outages earlier this year, the Financial Industry Regulatory Authority announced today. It’s the largest penalty ever ordered by the regulator.

“This action sends a clear message,” reads a statement from FINRA. “All FINRA member firms, regardless of their size or business model, must comply with the rules that govern the brokerage industry, rules which are designed to protect investors and the integrity of our markets.”

This is a breaking story and will be updated.

Source

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

Leave a Reply

Your email address will not be published. Required fields are marked *