South Carolina Joins a $10.2 Million Multi-State Settlement With Robinhood

South Carolina Attorney General Alan Wilson announced the state would join in a $10.2 million multi-state settlement with Robinhood Financial LLC for “operational and technical failures that harmed investors.”

“Today’s agreement reflects the ongoing efforts by state securities regulators to protect investors and make sure that they are treated fairly by financial services firms,” said Attorney General Wilson. “The Securities Division of the Attorney General’s Office is committed to enforcing the South Carolina Uniform Securities Act against those individuals and firms who have violated it to the detriment of South Carolina investors.”

The investigation began after Robinhood Financial had platform outages in 2020 when thousands relied on the app to make trades.

Read the source article at News 2