Robinhood, a disruptive force in the market for Main Street investors but also a serial offender of securities laws, will pay a total of $45 million to settle numerous violations of SEC rules and regulations by two of its broker-dealers.
Robinhood Securities and Robinhood Financial each failed to investigate suspicious activity on its networks, which led to them not filing suspicious activity reports in a timely manner from 2020-22, the SEC announced in a press release Monday.
