Posts Tagged ‘robinhood’
Robinhood Crypto Compliance Meltdown
New York financial regulators have issued a scorcher of an enforcement action against Robinhood, hitting the online trading app with a $30 million for allowing a weak compliance program that, in turn, allowed a wide range of other compliance failures. The New York Department of Financial Services (DFS) announced the sanction on Tuesday. The precise…
Read MoreRobinhood, Part II: Due Diligence Fails
Today I want to return to FINRA’s enforcement action against Robinhood, that online stock trading app with the terrible track record at customer due diligence and risk profiling. Even though the case involves the somewhat rarified compliance rules for broker-dealer firms, there’s a lot here that speaks to technology and due diligence challenges overall. Robinhood,…
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