Makl Robinhood, an American company popular with lovers, received a record fine. He lied to clients

The online brokerage company Robinhood has to pay $ 70 million (1.5 billion crowns) due to “systematic failures in supervision” that damaged the thousands of clients. The US Financial Sector Regulation (FINRA) reported. The change of amount is so far the highest penalty that the ad has given.

The company will pay a $ 57 million fine and $ 12.6 million will get damaged clients as compensation codes. The FINRA regulator stated that the company deceived consumers and exposed them to risky commercial tools, such as options. Small investments by elili etnm vpadkm services.

“We are happy to have this matter behind us. It is dark that we can continue to focus on our customers and the democratization of the financial sector for all, “said the company’s speech in an e-mail statement. He added that the brokerage company has invested heavily in client support and in the compliance function, ie in checking compliance with the first regulations.

In December, Robinhood agreed to pay $ 65 million to the U.S. Securities and Exchange Commission (SEC). He settled the accusation that he lied to clients about the source of his income.

Robinhood was founded in 2013 by Stanford University roommates Vladimir Tenev and Baiju Bhatt. The company allows users to trade stocks, exchange traded funds (ETFs), options and cryptocurrencies. Its popularity rose sharply during the pandemic, when the young people, locked up at home, decided to insist on a business application of the company and try to pay pensions.

Criticism of Robinhood’s own users has erupted in the fact that it was forced to suspend trading in some shares this year in response to membership caused by Reddit social users. They agreed on commercially selected events and in some cases deprived large hedge funds of large pensions, which they speculated on falling prices. There were rumors that the company was cooperating with hedge funds, which Robinhood refused.

Speculative stock trading of companies such as AMC cinema operators and GameStop video game retailers has attracted the attention of regulatory authorities and manufacturers.