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Robinhood online US brokerage ordered by Finra to pay record $69.6 million penalty

( June 30, 2021, 15:33 GMT | Official Statement) -- MLex Summary: Robinhood Financial, an online US brokerage, was ordered to pay a record $69.6 million penalty by the Financial Industry Regulatory Authority, the industry self-policing group, for harming thousands of customers. The firm inflicted the harm through false or misleading information, systems outages and approval of options trading when inappropriate to do so, Finra said. The penalty consisted of a $57 million fine and $12.6 million in customer restitution.Statement follows in full. Also see document below. ...

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