Robinhood to Pay $30M for FINRA Compliance Violations

Robinhood to Pay $30M for FINRA Compliance Violations

In order to resolve several regulatory investigations by the Financial Industry Regulatory Authority (FINRA) for noncompliance, including anti-money laundering (AML) infractions and shortcomings in supervisory and disclosure procedures, Robinhood has consented to pay $29.75 million. Regulatory Errors and Settlement Disintegration On March 7, FINRA announced the settlement, which includes $3.75 million in restitution to impacted clients and...

Robinhood to Pay $30M for FINRA Compliance Violations Coinatory

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