Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12450
Markets: 96130
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12450
Cryptocurrencies
55.82%
Bitcoin Share
The Coin Rise 2025-01-14 11:25:39

Robinhood to Settle with SEC for $45M Over Regulatory Failures

Robinhood to Settle with SEC for $45M Over Regulatory Failures

Robinhood, the popular online brokerage platform, has reached a $45 million settlement with the U.S. Securities and Exchange Commission (SEC) following accusations of breaching more than ten securities laws. The investigation, which focused on Robinhood Securities LLC and Robinhood Financial LLC, uncovered significant regulatory lapses across several areas. According to a January 13 SEC order , the Robinhood entities admitted to certain findings, including failures to maintain accurate records, safeguard customer data, and comply with short sale regulations. One of the most striking revelations was the submission of over 11,849 inaccurate Electronic Blue Sheets (EBS) to the SEC, which misrepresented data for approximately 392 million transactions. Additionally, the company failed to report suspicious activity promptly between 2020 and 2022 and neglected essential identity theft protections from 2019 to 2022. Cybersecurity issues also played a role, as Robinhood was cited for not addressing a vulnerability in 2021 that allowed unauthorized access to sensitive information of millions of customers. These failures prompted SEC Chair Gary Gensler to reiterate the importance of brokers adhering to federal securities laws to protect investors and maintain market integrity. Financial Penalties and Crypto Oversight The $45 million settlement comprises $33.5 million to be paid by Robinhood Securities and $11.5 million by Robinhood Financial. Both firms agreed to the penalties, as well as a formal censure, without admitting or denying broader wrongdoing. Payment of the fines is required by Jan. 27. Interestingly, Robinhood’s cryptocurrency arm was not directly implicated in these violations. However, the company’s crypto division has also faced regulatory scrutiny . In September 2023, Robinhood Crypto reached a $3.9 million settlement with California authorities over allegations of blocking customer withdrawals between 2018 and 2022. Looking Ahead Despite these challenges , Robinhood’s crypto business has shown resilience, reporting a 165% revenue increase to $61 million and a 32.3% rise in crypto assets under custody, totaling $19.5 billion in the third quarter of 2024. Robinhood’s stock saw minimal impact from the settlement, with shares falling 1.22% on January 13 before recovering slightly in after-hours trading. While the company navigates these legal hurdles, its growing crypto segment signals potential for future growth. The post Robinhood to Settle with SEC for $45M Over Regulatory Failures appeared first on TheCoinrise.com .

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
55.82%
Bitcoin Share
61
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.