“In addition, prior to March 2021, there were deficiencies at Robinhood in its review and approval process for options and margin accounts, weaknesses in the firm’s monitoring and reporting tools, and insufficient customer service and escalation protocols that in some cases left Robinhood users unable to process trades even as the value of certain stocks was dropping,” the DFPI said.
Source: https://www.coindesk.com/policy/2023/04/07/robinhood-faces-102m-penalty-from-multiple-us-states-over-technical-failures-investor-harm/?utm_medium=referral&utm_source=rss&utm_campaign=headlines