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By Jonathan Stempel (Reuters) -A cryptocurrency platform run by Robinhood Markets will pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts from ...
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[133] [134] [135] Robinhood faced an increase in its collateral requirement from $700 million to $3.7 billion, later reduced to $1.4 billion, and the inability to meet this requirement may have resulted in insolvency in a matter similar to the bankruptcy of Lehman Brothers. Robinhood was able to quickly raise funds to meet the reduced requirements.
In October 2018, Bloomberg reported that 40% of Robinhood's revenues were derived from selling customer orders to firms such as Citadel Securities and Two Sigma Securities. [27] In December 2018, Citadel was forced by the SEC to pay $3.5 million over violations stemming from incorrect reporting for nearly 80 million trades from 2012 to 2016. [28]
Dennis Kozlowski, former CEO of Tyco International, convicted in 2005 of fraud and other crimes related to his receipt of $81 million in unauthorized bonuses, the purchase of art for $14.725 million and the payment by Tyco of a $20 million investment banking fee to a former Tyco director. [33]
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