SEC charges Robinhood with securities violations, brokerage to pay $45 million penalty
1. Robinhood agrees to pay $45 million in SEC penalties for regulatory violations. 2. Violations included failures in reporting suspicious trading and identity theft protections. 3. Robinhood failed to maintain electronic communications and operational databases appropriately. 4. The SEC noted inaccuracies in reporting affecting 392 million transactions. 5. Robinhood plans to address these historical issues and focus on innovation.