Categories: Stock Market News

Robinhood to pay $45 million to settle SEC expenses over document retaining, different violations


NEW YORK (Reuters) – On-line buying and selling agency Robinhood Markets (NASDAQ:HOOD) has agreed to pay $45 million to settle U.S. Securities and Alternate Fee expenses over document retaining, commerce reporting and different rule violations, the regulator mentioned on Monday.

Regulators discovered two Robinhood corporations did not adjust to a broad array of necessities together with precisely reporting buying and selling exercise, submitting well timed experiences of suspicious exercise, sustaining information on work communications and complying with quick sale guidelines, mentioned SEC performing director Sanjay Wadhwa in a press release.

A consultant for Robinhood mentioned in a press release the agency is happy to have resolved the issues.

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