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FINRA Fines Robinhood $70 Million for Harming Customers

By
Kate Clark
· · Source: The Information

The Financial Industry Regulatory Authority has fined the commission-free stock trading app Robinhood $70 million, including $12.6 million in restitution to thousands of its customers, the regulator announced Wednesday. The fine represents FINRA’s largest-ever and is meant to reflect “the scope and seriousness of Robinhood’s violations,” Jessica Hopper, head of FINRA’s department of...

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