BROWSE BY TOPIC
- Investments - Private
- Investor Protection
- Investments - Strategies
- Investments - Unsuitable
- Bad Advisors
- Bad Brokers
- Boiler Rooms
- Regulatory Sanctions
- Wall Street News
- Rules & Regulations
- Terminations/Cost Cutting
- Compliance Concepts
- General News
- Donald Trump & Co.
- Big Banks
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
Robinhood Employee Steals From a Customer
by Howard Haykin
However, the conveniences derived from today's internet technologies come the added risks - in this case, information about your personal bank account is now in the hands of a third party.
Which brings us to April 2019, when a customer support analyst with Robinhood Financial converted $1,869 belonging to you, the customer. The employee then used the funds to pay for her personal expenses.
- On April 15, she accessed the customer’s personal bank account and transferred $49 from that account to pay her personal credit card balance
- On April 16, she accessed the account and transferred $1,820 to pay her college tuition.
- The transfers were made without the brokerage customer’s knowledge or consent.
- The customer support analyst was promptly barred from the industry.
BEWARE - WHAT'S IN YOUR ACCOUNT? Prudence dictates that, every so often, each of us should check our bank accounts for unusual or unauthorized activity. A simple and prudent exercise that’s become necessary in this internet-driven world.
[For details, click on FINRA Case #2019062603701.]