• Robinhood will pay a $70 million fine for outages in March

  • The Financial Industry Regulatory Authority stated today that the online brokerage platform Robinhood will pay roughly $70 million in fines for “widespread and serious harm caused by customers” as a result of deceptive communications and system disruptions earlier this year. It’s the greatest fine the regulator has ever imposed.

    The FINRA statement states, “This action sends a strong message.” “Regardless of their size or business strategy, all FINRA member companies must follow the rules that govern the brokerage industry, laws that are designed to protect investors and the integrity of our markets.”

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