"The Securities and Exchange Commission charged Robinhood with securities violations, and the brokerage will pay a $45 million penalty. Robinhood violated more than 10 separate securities law provisions, including failing to report suspicious trading in a timely manner. The SEC found Robinhood had failures in maintaining electronic communications and safeguarding customer information between 2020 and 2021. Sanjay Wadhwa, the acting director of the SEC's Division of Enforcement, stated that Robinhood failed to observe significant regulatory requirements."