Robinhood settles for $45M with SEC over cybersecurity, communication, and trading violations. Fines were imposed on both entities.

Two brokerage units of Robinhood Markets agreed to pay $45 million to settle an investigation by the Securities and Exchange Commission into a range of alleged violations, including one stemming from a 2021 data breach that exposed millions of customer names and emails.

Robinhood recently announced that it’s agreed to pay $45 million in fines to the U.S. Securities and Exchange Commission. While that may seem like a lot sum to some, it may actually represent a turning of the page for the investing platform.

The online trading firm has agreed to settle the Securities and Exchange Commission fines, related to 10 violations, including failures to report suspicious activity in a timely manner, implement adequate identity theft protections and provide “blue sheet data” to the SEC.

Robinhood Securities will pay $33.5 million and Robinhood Financial will pay $11.5 million to settle a variety of charges, including recordkeeping and cybersecurity violations.

The upstart brokerage agreed to pay the Securities and Exchange Commission for failing to protect sensitive customer data, among other infractions.

Robinhood has agreed to fork out $45 million to settle an investigation by the Securities and Exchange Commission over several alleged violations,

Online trading firm Robinhood Markets has agreed to pay $45 million to settle U.S. Securities and Exchange Commission charges over record keeping, trade reporting and other rule violations, the regulator said on Monday.

In a significant settlement, Robinhood has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) to resolve allegations of violating multiple securities laws. The SEC’s order found that Robinhood Securities LLC and Robinhood Financial LLC had breached over 10 regulatory provisions,