American commission-free trading platform Robinhood Markets Inc has been charged by the US Securities and Exchange Commission (SEC) for violating Federal securities provisions. The markets regulator specifically charged two of the exchange’s affiliated broker dealers.
The Robinhood and US SEC Settlement
According to the US SEC publication announcing the charges, it noted that the Robinhood entities violated up to 10 securities provisions. The markets regulator also pointed out that these entities have agreed to settle the charges. Per the terms agreed, the exchange will pay the sum of $45 million.
While Gensler-led has barely 7 days more in office, this action might be one of the last he’d oversee. Donald Trump has nominated Paul Atkins as the next Chairman, with visible changes expected at the commission.
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