Posted on 01/30/2021 9:19:10 AM PST by Navy Patriot
Robinhood Financial has been fined $65 million for misleading its stock market customers about how the company makes its revenue from their trades, the Securities and Exchange Commission said Thursday. The SEC fine comes one day after regulators in Massachusetts filed a lawsuit against Robinhood for allegedly targeting young, inexperienced investors with flashy gimmicks on its app that treat stock investing like a game.
(Excerpt) Read more at cbsnews.com ...
As I understand this fine was for something done a while ago and now it’s being levied to give the impression the sec is not a political hack of the swamp. IOW what Robinhood did presently is being ignored because it’s what they were ordered to do by yellen and the hedge fund swamp.
And why is that? Most firms have several pages of disclosures on those fees. They are not misleading anyone. But you do have to actually have to read the fine print.
“ So, which far left group will be the recipient of the fine money?”
Good question. And true
This is so 2020. Old news. Get with the program, pops.
And as a former Trader, small time, I can guarantee, no Billionaires will be punished. Short Squeeze, the little guys made some money. That is great!
Almost completely correct, the fine was levied about a month BEFORE Robinhood's criminal acts of the past few days.
But you are correct that the SEC fine was token, a coverup and distraction from insider market manipulation.
Bkmk RH
So let me get this straight. A bunch of novice rubes who are too dumb to trade bashed in the skulls of the cream of the crop of the intelligentsia on Wall Street?
They accidentally cornered a market even though they expressly stated that was their goal.
These hedgefund pirates/vultures/hyenas political donations sure do pay off well.
Yep, that’s pretty much it.
10 to 1 leveraging in the options market. Wasnt China or Russia or the Boogyman or any other fantasy bad guy. These hedgefund ass#0les sold short 140% of the outstanding stock of gamestonk. They sold short 40% more than there are stocks in existence. The Redditeers bought stock and told their brokers “You can not use these shares to cover (lend) to anyone to short the stock” 140 friggin % !!!!!!!!!! There are not enough shares in this or any other universe to cover the shorts. The hedgefunds were circling for the kill and a smarter faster leaner and meaner predator came on the scene and gutted the funds. The crap the funds are pulling via regulators and brokerages are crimes of fraud and theft. Fair and efficient market, my ass.
That is a more logical approach.
how many trades does a person need to make in order to be experienced?
LAST December....
That may work in normal times and normal stocks but in high volatility it blows right through the limits. Then the brokerage has to figure out whether or not to buy/sell outside of the parameters you set. They have little clauses in their contract with you to limit their legal exposure on these decisions.
Yep, that’s pretty much it, again.
unless it’s them
65 mil?
For these guys?
65 mil won’t cover 6 months green fees...
Agreed, token.
This is a story of billionaires battling billionaires
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