Page 16 - பீட் ஸ்க்ரோடர் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

WASHINGTON (Reuters) Wall Street s industry regulator fined Robinhood $70 million on Wednesday for systemic failures, including systems outages, providing false or misleading information, and weak options trading controls, saying those factors combined harmed millions of the app s customers. The Financial Industry Regulatory Authority fine is the latest hit to Robinhood s reputation. The broker, which has been credited with democratizing trading, is under scrutiny by federal and state policymakers following this year s meme-stock fiasco which raised questions over the California firm s business model, risk management and customer treatment. However, the sweeping agreement, which resolves alleged FINRA violations dating back to September 2016, likely paves the way for the firm to move forward quickly with a planned initial public offering that has been delayed due to meme-stock backlash and other regulatory queries.

United statesPaul simaoNate raymondAnirban senDavid gregorioRosalba obrienPete schroederChris prenticeJessica hopperExchange commissionFinancial industry regulatory authorityWall streetReddit fueled gamestopRobert frenchmanMukasey frenchmanState bill galvin