- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-09-01T20:20:00
Online stock trading platform Robinhood last week announced the appointment of two chief compliance officers as it reportedly faces scrutiny from the SEC and FINRA regarding its March system outages.
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Fintech firm Robinhood has hired a new chief compliance officer at its cryptocurrency arm ahead of the first round of testing for its cryptocurrency wallet offering.
The Financial Industry Regulatory Authority ordered Robinhood Financial to pay a record-breaking $70 million in penalties, the result of “systemic supervisory failures in several critical parts of its business.” The firm must retain a compliance consultant, among other enhancements.
Wall Street has been consumed this week watching a real-time battle unfold between retail investors and hedge funds over formerly moribund stocks like GameStop, AMC Entertainment, and BlackBerry. The compliance lessons lie in the levels of risk.
