Violation Tracker Individual Record

Company: 
Robinhood Financial LLC
Penalty: 
$65,000,000
Year: 
2020
Date: 
December 17, 2020
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

The Securities and Exchange Commission charged Robinhood Financial LLC for repeated misstatements that failed to disclose the firm's receipt of payments from trading firms for routing customer orders to them, and with failing to satisfy its duty to seek the best reasonably available terms to execute customer orders. Robinhood agreed to pay $65 million to settle the charges.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.