Robinhood ordered to pay $70m penalty to US regulator

Robinhood ordered to pay $70m penalty to US regulator

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announced on Wednesday that it was fining Robinhood $57m and ordering it to pay $12.6m plus interest in restitution to its customers—the largest penalty ever ordered by the regulator.

Among a litany of failures alleged by Finra, widespread technical problems on the platform during periods of high volatility cost some traders tens of thousands of dollars, it said.

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