![]() ![]() The DFPI expects any person offering securities, lender, or other financial services provider that operates in California to comply with our financial laws. The DFPI found no evidence of willful or fraudulent conduct by Robinhood, and that Robinhood fully cooperated with the investigation. “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.” But platforms such as Robinhood must comply with common-sense protections for investors and consumers as required by law,” said DFPI Commissioner Clothilde Hewlett. “Online trading platforms provide Americans with convenient options to invest. One year after the settlement date, Robinhood will attest to the lead state, Alabama, that it is in full compliance with the FINRA-ordered independent compliance consultant’s recommendations or has otherwise instituted measures that are more effective at addressing the recommendations. Robinhood retained an independent compliance consultant who made recommendations for remediation, which Robinhood has generally implemented. Robinhood will provide access to a FINRA-ordered compliance implementation report to settling states. ![]() Robinhood neither admits nor denies the findings as set out in the States’ orders.
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