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Robinhood to pay $10mln to settle operational deficiency fees

April 6 (Reuters) – Robinhood Monetary LLC (HOOD.O) can pay as much as $10.2 million in consequences to a number of states associated with platform outages the corporate skilled in March 2020 and deficiencies within the brokerage’s evaluate and approval procedure previous to 2021.

The agreement comes after an investigation by way of state securities regulators in Alabama, Colorado, California, Delaware, New Jersey, South Dakota and Texas into outages on Robinhood’s app that close consumers out of buying and selling on pandemic-related volatility, a number of states stated in a unlock. Robinhood additionally agreed in concept ultimate yr to settle

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