(Bloomberg) A looming shift in the way US equity trades are settled is sending unintended shock waves through the $7.5 trillion-a-day global market for foreign exchange.Most Read from BloombergDimon Warns 7% Fed Rate Still Possible, Times of India SaysIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownApple’s $59 Fake-Suede iPhone Case Is Its Biggest Dud of 2023Costco Offers Members $29 O
Robinhood accused of manipulating customers by Massachusetts regulator
The complaint marks the first time the state s fiduciary rule is being used to bring charges against a brokerage firm
December 16, 2020 2 MINS
Massachusetts regulators filed a complaint against Robinhood on Wednesday related to the trading app’s use of gamification strategies to attract inexperienced investors and its failure to prevent frequent outages and disruptions on its trading platform.
The 23-page complaint filed by the office of William Galvin, the Secretary of the Commonwealth of Massachusetts, marks the first time the state’s fiduciary rule is being used to bring charges against a brokerage firm since the office began enforcing the rule in September.