{"id":227994,"date":"2021-04-15T22:42:00","date_gmt":"2021-04-15T19:42:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/robinhood-sues-massachusetts-over-regulatory-clampdown\/"},"modified":"2021-04-15T22:42:00","modified_gmt":"2021-04-15T19:42:00","slug":"robinhood-sues-massachusetts-over-regulatory-clampdown","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/robinhood-sues-massachusetts-over-regulatory-clampdown\/","title":{"rendered":"#Robinhood sues Massachusetts over regulatory clampdown"},"content":{"rendered":"

“#Robinhood sues Massachusetts over regulatory clampdown<\/strong>”
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\u00a0Online brokerage Robinhood on Thursday sued to invalidate Massachusetts\u2019 recently-adopted fiduciary rule and block state regulators from proceeding with charges it encourages inexperienced investors to place risky trades without limits.<\/p>\n

Robinhood in a lawsuit filed in state court in Boston said the fiduciary standard of conduct for broker-dealers that Massachusetts Secretary of State Bill Galvin\u2019s office adopted last year violates state and federal law.<\/p>\n

A spokeswoman for Galvin did not respond to a request for comment.<\/p>\n

Galvin, the state\u2019s top securities regulator, in December filed an administrative case accusing Robinhood of using aggressive tactics to attract inexperienced investors and failing to prevent outages on its platform.<\/p>\n

He accused the app<\/a>-based service of using strategies that treated trading like a game<\/a> to lure young, inexperienced customers, including having confetti rain down for each trade made on its app.<\/p>\n

The case is the first enforcement action brought under a state fiduciary rule adopted in September that raised the investment-advice standard for brokers.<\/p>\n

Regulators are seeking a fine and order requiring Robinhood to engage a compliance consultant to review its platform and policies. Robinhood has denied wrongdoing.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Robinhood sues Massachusetts over regulatory clampdown” \u00a0Online brokerage Robinhood on Thursday sued to invalidate Massachusetts\u2019 recently-adopted fiduciary rule and block state regulators from proceeding with charges it encourages inexperienced investors to place risky trades without limits. Robinhood in a lawsuit filed in state court in Boston said the fiduciary standard of conduct for broker-dealers that…<\/p>\n","protected":false},"author":1,"featured_media":227995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/04\/robinhood-returns-fire-massachusetts.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[86706,102131,72128,72667,70939,5005,70934],"class_list":["post-227994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-robinhood","tag-4-15-21","tag-gamestop","tag-investors","tag-massachusetts","tag-reddit","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/227994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=227994"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/227994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/227995"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=227994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=227994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=227994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}