SEC Fines Robinhood $65M For 'Misleading' Customers

Law360 (December 17, 2020, 11:20 AM EST) -- Robinhood Financial LLC agreed to pay a $65 million fine Thursday to resolve allegations from the U.S. Securities and Exchange Commission that the trading platform failed to disclose an order routing arrangement that hindered its ability to get the best pricing for customers and led to millions of dollars in losses.

The SEC said Thursday that Robinhood Financial has agreed to pay $65 million to resolve allegations it misled customers about an order routing arrangement that led to millions of dollars in losses. (AP Andrew Harnik) Between 2015 and late 2018, Robinhood misled customers about the payments it received for routing...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!