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Comment: Finra's record Robinhood fine, imposed with US SEC's Gensler in mind, likely to make little dent in firm's finances, experts say

By Neil Roland ( July 1, 2021, 19:55 GMT | Comment) -- Finra’s record fine against Robinhood Financial yesterday showed an awareness that stiff enforcement winds are starting to blow under Securities and Exchange Commission Chairman Gary Gensler, with other penalties against senior officers — including the firm’s CEO, Vlad Tenev — possibly looming, securities law experts said. But the nearly $70 million penalty is likely to have little impact on the finances of the rapidly growing brokerage, which has 31 million customers and an initial public offering ahead that could raise over $20 billion, the specialists said.Finra’s record fine against Robinhood Financial yesterday showed an awareness that stiff enforcement winds are starting to blow under Securities and Exchange Commission Chairman Gary Gensler, with other penalties against senior officers — including the firm’s CEO, Vlad Tenev — possibly looming, securities law experts said....

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