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Robinhood implements new cybersecurity measures by mid-2025?
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No • 50%
Robinhood's official announcements or SEC filings
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Robinhood to Pay $45 Million to Settle SEC Charges of Violating Over 10 Securities Laws
Jan 13, 2025, 10:15 PM
Two Robinhood broker-dealers, Robinhood Securities and Robinhood Financial, have agreed to pay $45 million in combined civil penalties to settle charges brought by the U.S. Securities and Exchange Commission (SEC). The SEC alleged that Robinhood violated more than 10 separate securities law provisions, including failures in reporting, cybersecurity measures, recordkeeping, Regulation SHO compliance, and short sale violations. The settlement addresses a range of SEC allegations, including Robinhood's handling of a 2021 data breach and customer identity theft, marking of short sales, and employee use of unauthorized communication platforms like WhatsApp.
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