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Robinhood BDs dinged for violating more than 10 securities law provisions

Image of a phone showing the Robinhood Markets image on a mobile phone.
Photo Illustration: Scott Olson/Getty Images

Julie DiMauro

2 min read
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Alleged violations include blue sheet filing, identity theft, and suspicious activity reporting, including a 2021 data breach that exposed customers’ data.

Robinhood Securities LLC and Robinhood Financial LLC have agreed to pay $45m in combined civil penalties to settle charges arising from their brokerage operations involving claims that they violated more than 10 separate securities law provisions, the SEC reported.

The two Robinhood entities also had longstanding failures to maintain and preserve

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