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01/14/2021 08:00 AM EST
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Robinhood hires ex-regulators to help address compliance lapses
Robert Schmidt, Bloomberg News The Robinhood website home screen on a smartphone arranged in the Brooklyn borough of New York, U.S., on Saturday, Dec. 19, 2020. Robinhood Markets will pay $65 million to settle allegations that it failed to properly inform clients it sold their stock orders to high-frequency traders and other firms, putting a major compliance headache behind the brokerage even as new ones emerge. Photographer: Gabby Jones/Bloomberg , Bloomberg
Robinhood Markets Inc. has hired two officials from its front-line regulator as the fast-growing brokerage looks to move beyond a series of compliance problems and prepares for an expected initial public offering later this year.