Robinhood Reportedly Faces SEC Probe
Robinhood is reportedly facing multiple investigations by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) for failing to disclose until 2018 that it sold clients’ orders to high speed trading firms.
The stock trading app might have to pay a fine of more than $10 million.
A Robinhood spokeswoman declined to comment on the matter.
