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Robinhood sues to overturn Massachusetts fiduciary rule

Robinhood sues to overturn Massachusetts fiduciary rule Meanwhile, Massachusetts amended its December complaint against the online brokerage seeking to revoke its registration in the state. April 15, 2021 2 MINS Online brokerage Robinhood filed a suit in a Massachusetts court Thursday to overturn the state’s fiduciary rule and end a case against one of its subsidiaries that is the first test of the measure. Earlier in the day, Massachusetts Secretary of the Commonwealth William Galvin amended the original administrative complaint against Robinhood to include more allegations about the firm’s marketing to customers. Galvin also is seeking to revoke Robinhood’s brokerage registration in the state.

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