The post Robinhood Faces $45M SEC Penalty for Regulatory Violations appeared on BitcoinEthereumNews.com.

Robinhood has agreed to pay $45 million in civil penalties to the U.S. Securities and Exchange Commission (SEC) for breaching multiple securities regulations. The settlement involves Robinhood Securities LLC and Robinhood Financial LLC, which admitted to certain findings in the SEC’s investigation. The SEC cited failures in maintaining electronic records, timely reporting suspicious activity, and safeguarding customer information. Additionally, Robinhood was found non-compliant with rules against abusive short-selling practices and had unresolved cybersecurity vulnerabilities. Robinhood Securities will pay $33.5 million, and Robinhood Financial will pay $11.5 million, with payments due by January 27. Despite the penalty, Robinhood’s stock showed minimal impact, reflecting resilience in investor confidence. Source: https://coinpedia.org/crypto-live-news/robinhood-faces-45m-sec-penalty-for-regulatory-violations/

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Filed under: News - @ January 14, 2025 6:19 am