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Anonymous ID: 8d0ca7 June 30, 2021, 7:59 a.m. No.67735   🗄️.is đź”—kun   >>7736 >>7737 >>7749 >>7758

Robinhood Pays $70 Million To Settle Allegations Of Manipulation, Opening Door To IPO

 

Following reports that regulators have been throwing up obstacles to Robinhood's planned IPO, forcing the company to push back its expected timeline for the offering, the Wall Street Journal reported just minutes ago that the discount brokerage has just agreed to pay $70MM to settle allegations that have been giving the firm serious problems.

 

The settlement with Finra, the industry's self-regulatory body, will resolve allegations that Robinhood misled customers, approved ineligible traders for risky strategies and didn't supervise technology that failed and locked millions out of trading. Finra announced the settlement Wednesday morning.

 

"We’re fine with innovation, but innovation can’t be at the cost of creating compliance and supervision systems," Finra Enforcement Chief Jessica Hopper said in an interview. Finra is privately funded by the brokerage industry is overseen by the Securities and Exchange Commission. Of the $70MM, $12.6MM will be used as compensation for harmed investors.

 

WSJ shared an example, from Finra, of the type of behavior that led to the fine. A new customer, who was 20 years old, was rejected for options trading after telling Robinhood that he had little investing experience and a low risk tolerance. Just 3 minutes later, the customer changed his risk appetite to “medium” and said he had three years of investing experience. Within seconds, Robinhood approved him for options, according to Finra’s settlement document. There was also that incident with the Robinhood trader who took his own life.

 

Robinhood has also been accused of misleading customers into believing that the firm wouldn't extend them margin to fill their trades if they simply turned that feature off (not true). Finra also faulted Robinhood for repeated outages that seem to disrupt trading just when markets are sliding (or meme stocks are soaring, like we saw back in January).

 

The fine is, of course, merely a speeding ticket: The firm's revenue growth has surged, with its revenue from trading more than tripling during Q1. Robinhood now has 31MM customers, 18MM of whom have funded accounts, according to a settlement document made public Wednesday. Robinhood's critics have complained about all of these practices in the past, prompting the firm to modify some of the "game-ification" techniques it uses, allegedly, to entice users to trade more.

https://www.zerohedge.com/markets/robinhood-pays-70-million-settle-allegations-manipulation-opening-door-ipo

Anonymous ID: 8d0ca7 June 30, 2021, 8:31 a.m. No.67743   🗄️.is đź”—kun   >>7749 >>7758

>>67738, >>67742

N455EE Cessna 525B also in at Mid-Valley Airport from Austin Int'l depart

 

Donald Trump Visits Mexico Border: Trump to Join Texas Gov. Greg Abbott for Border Tour

 

Former President Donald Trump is set to visit the U.S.-Mexico border Wednesday as Republicans continue to criticize President Joe Biden's border security and migration policies.

Trump will visit with Texas Governor Greg Abbott at an unfinished section of the border wall near Weslaco at the southern tip of Texas. The pair will hold a security briefing with state and law enforcement officials and then tour the border. Members of the Republican Study Committee (RSC) will also join Trump at the border.

https://www.newsweek.com/latest-updates-donald-trump-visits-mexico-border-trump-join-texas-gov-greg-abbott-border-tour-1605586

Anonymous ID: 8d0ca7 June 30, 2021, 9:02 a.m. No.67746   🗄️.is đź”—kun   >>7747 >>7749 >>7758

Myanmar coup latest: Political detainees released from Yangon prison

 

Wednesday, June 30

7:00 p.m. Myanmar's Ministry of Information warns foreign media against calling the country's governing body since the Feb. 1 coup a "junta," "military junta" or "military council." The announcement is published in the state-owned newspaper Global New Light of Myanmar. Read more here.

 

3:30 p.m. Families and friends of political detainees wait for the release of these individuals in front of Insein Prison in Yangon.

11:00 a.m. Local media outlet Irrawaddy reports that Myanmar intends to release about 2,000 political detainees charged under section 505-A of the penal code from prisons on Wednesday, including 700 detainees at Insein Prison in Yangon. Section 505-A has been cited in detaining individuals such as American journalist Danny Fenster.

 

3:25 a.m. "The military coup in Myanmar and its violent aftermath have raised existential questions about whether the Association of Southeast Asian Nations really serves any useful purpose for the region's 632 million people," writes Michael Vatikiotis, Asia director of the Centre for Humanitarian Dialogue. "Finding a way to retool the grouping to be more responsive may not seem all that hard based on the association's rather liberal charter, which came into force in 2008," Vatikiotis argues in commentary for Nikkei Asia. "But unlike the African Union, which has used a strong peacemaking and security enforcement mechanism to intervene in countries that have descended into violence and instability, the inertia to remain weak and toothless will be hard to combat."

 

3:10 a.m. Actors, athletes and social media stars are among 24 celebrities that have been cleared of charges of inciting violence against the government, Reuters reports, citing military-run Myawaddy television. Scores of celebrities found themselves on a wanted list after the Feb. 1 coup for voicing opposition to the junta. According to Reuters, Myawaddy television said the charges against the 24 had been dropped because their involvement "had been due to external factors."

https://asia.nikkei.com/Spotlight/Myanmar-Coup/Myanmar-coup-latest-Political-detainees-released-from-Yangon-prison

 

Myanmar military warns foreign media to not call it a 'junta'

 

SAC says 'action will be taken,' appears to be trying to improve global image.

 

Myanmar's Ministry of Information on Wednesday issued a warning to foreign media against calling the country's governing body since the Feb. 1 coup a "junta," "military junta" or "military council."

 

The military-led body, which controls government ministries, is called the State Administration Council (SAC) and is chaired by the commander in chief, Senior Gen. Min Aung Hlaing. The military established the council on Feb. 2, a day after ousting the democratically elected government and detaining leaders including State Counselor Aung San Suu Kyi. In the announcement, published in the state-owned newspaper Global New Light of Myanmar, the ministry also stressed that the SAC "just controls various State duties in line with the provisions of the state of emergency" under the constitution, and the SAC is "not a coup d'etat government." It also said "some foreign correspondents" based in Myanmar "exaggerate their news quoting rootless sources and false news related to Myanmar" and warned that "action will be taken" against foreign news agencies if they "apply wrong usages, quote and exaggerate fake news and disseminate false information."

 

Since February, the military has asked the media in general multiple times not to use the word "junta," but this time it targeted foreign media. By trying to specify terminology that foreign media cannot use in news articles, the military appears to be attempting to improve its global image through reducing the number of international reports that point out the lack of internationally recognized legitimacy of the current regime in Myanmar.

https://asia.nikkei.com/Spotlight/Myanmar-Coup/Myanmar-military-warns-foreign-media-to-not-call-it-a-junta

Anonymous ID: 8d0ca7 June 30, 2021, 9:24 a.m. No.67749   🗄️.is đź”—kun   >>7750

#362

>>67715, >>67732, >>67738, >>67742, >>67743, >>67744, >>67745 Wednesday eyez on the skyz

>>67746 Myanmar coup latest: Political detainees released from Yangon prison + Myanmar military warns foreign media to not call it a 'junta'-nikkei

>>67743 Donald Trump Visits Mexico Border: Trump to Join Texas Gov. Greg Abbott for Border Tour-newsweek

>>67738, >>67742 Texas Guvnah' Abbott heads to Welasco for Border Visit with 45

>>67739 USB DRIVES Were Suspiciously Stolen, Transferred and Inserted Into Voting Systems Used in Swing States in 2020 Election-gatewaypundit

>>67735 Pay to Play? Robinhood Pays $70 Million To Settle Allegations Of Manipulation, Opening Door To IPO

>>67734 There will be I told you so's: CNN Loses More Than Half Its Audience in Just Three Months.

>>67729 I do not trust CNN to be truthful or honest so i do not do interviews with CNN

>>67728 What Parler Saw During the Attack on the Capitol. Video chronology of Jan 6.

>>67702 Aggressive BLM Activists Block Minneapolis City Council Member’s Car, Force Her to Sign Statement Saying Rioter’s Charges Will Be Dropped (VIDEO)

>>67699 President Trump’s Alabama Rally Cancelled Just Days Before His July 3rd Speech — Park Commissioner Cancels the Event After 45th President Was Invited as Guest Speaker

>>67698 Disclose.tv: DDos cyber attack on the communication systems for Russian President Putin's Q&A session.

>>67690, >>67691 Rep. Lauren Boebert UNLOADS on Speaker Pelosi, Hunter Biden and Cop-Hating Democrats in Pro 2A Speech for the Ages (VIDEO)