SEC charges Robinhood $65M for misleading customers about revenue sources

#1

Post by ericliuche » Thu, Dec 17, 2020, 2:02 PM UTC

SEC charges Robinhood $65M for misleading customers about revenue sources
sec.gov

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#2

Post by [deleted] » Thu, Dec 17, 2020, 2:21 PM UTC

[deleted]

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#3

Post by chairmanwow1 » Thu, Dec 17, 2020, 2:21 PM UTC

I know this may be a slap on the wrist for Robinhood, but honesty the SEC is one of the branches of government that I trust almost as much as the FDA.

I appreciate the work they do and I hope they continue it.

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#4

Post by danielfoster » Thu, Dec 17, 2020, 2:23 PM UTC

chairmanwow1 wrote: post #3

I know this may be a slap on the wrist for Robinhood, but honesty the SEC is one of the branches of government that I trust almost as much as the FDA. I appreciate the work they do and I hope they continue it.

So you place a lot of trust in the SEC or you don't?

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#5

Post by gk1 » Thu, Dec 17, 2020, 2:24 PM UTC

chairmanwow1 wrote: post #3

I know this may be a slap on the wrist for Robinhood, but honesty the SEC is one of the branches of government that I trust almost as much as the FDA. I appreciate the work they do and I hope they continue it.

Does this cut them off from their revenue source? That would seem a bigger issue for them than the fine.

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#6

Post by gamerDude » Thu, Dec 17, 2020, 2:25 PM UTC

If the SEC has gone through and has accounted for the 34 million in cost to consumers, why are they not having robinhood reimburse the customers for their lost money on the trades and then charging the additional 30 million on top for lying? Why does the SEC take all the money?

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#7

Post by dsbleia » Thu, Dec 17, 2020, 2:25 PM UTC

Will this kill their public offering?

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#8

Post by fwsgonzo » Thu, Dec 17, 2020, 2:25 PM UTC

gk1 wrote: post #5

chairmanwow1 wrote: post #3

I know this may be a slap on the wrist for Robinhood, but honesty the SEC is one of the branches of government that I trust almost as much as the FDA. I appreciate the work they do and I hope they continue it.

Does this cut them off from their revenue source? That would seem a bigger issue for them than the fine.

Looks like it was a cease-and-desist

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#9

Post by plouffy » Thu, Dec 17, 2020, 2:26 PM UTC

danielfoster wrote: post #4

chairmanwow1 wrote: post #3

I know this may be a slap on the wrist for Robinhood, but honesty the SEC is one of the branches of government that I trust almost as much as the FDA. I appreciate the work they do and I hope they continue it.

So you place a lot of trust in the SEC or you don't?

He/She does.

Re: SEC charges Robinhood $65M for misleading customers about revenue sources

#10

Post by karpodiem » Thu, Dec 17, 2020, 2:26 PM UTC

chairmanwow1 wrote: post #3

I know this may be a slap on the wrist for Robinhood, but honesty the SEC is one of the branches of government that I trust almost as much as the FDA. I appreciate the work they do and I hope they continue it.

lol, you must be a TSLA shareholder.

We live in a golden age of fraud. Look up $PEN, $OSTK, pretty much anything published by Muddy Waters.