Robinhood is Being Investigated for Fraud by the SEC. Here's Why.
Robinhood Markets Incorporated is facing a civil fraud investigation over its early failure to fully disclose its practice of selling clients’ orders to high-speed trading firms, according to the Wall Street Journal.
The investigation is apparently at an advanced stage and the company could have to pay a fine exceeding $10 million if it agrees to settle the Securities and Exchange Commission probe. A deal is allegedly unlikely to be announced this month, according to the article, and the two sides haven’t formally negotiated a proposed fine.
A Robinhood spokeswoman declined to comment to the Wall Street Journal on the investigation or any talks with regulators, but said: “We strive to maintain constructive relationships with our regulators and to cooperate fully with them.”
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Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market by Scott Patterson. https://amzn.to/2QOeTX8
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Видео Robinhood is Being Investigated for Fraud by the SEC. Here's Why. канала Patrick Boyle
The investigation is apparently at an advanced stage and the company could have to pay a fine exceeding $10 million if it agrees to settle the Securities and Exchange Commission probe. A deal is allegedly unlikely to be announced this month, according to the article, and the two sides haven’t formally negotiated a proposed fine.
A Robinhood spokeswoman declined to comment to the Wall Street Journal on the investigation or any talks with regulators, but said: “We strive to maintain constructive relationships with our regulators and to cooperate fully with them.”
Books on High Frequency Trading:
Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market by Scott Patterson. https://amzn.to/2QOeTX8
Flash Boys: A Wall Street Revolt by Michael Lewis. https://amzn.to/31TmTwa
Patricks' Books:
Statistics for Traders: https://amzn.to/3eerLA0
Financial Derivatives: https://amzn.to/3kwsPSr
Corporate Finance: https://amzn.to/3fn3rvC
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance
Видео Robinhood is Being Investigated for Fraud by the SEC. Here's Why. канала Patrick Boyle
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