Robinhood, a disruptive force in the market for Main Street investors but also a serial offender of securities laws, will pay a total of $45 million to settle numerous violations of SEC rules and regulations by two of its broker-dealers.

Robinhood Securities and Robinhood Financial each failed to investigate suspicious activity on its networks, which led to them not filing suspicious activity reports in a timely manner from 2020-22, the SEC announced in a press release Monday.

The broker-dealers also failed to implement adequate policies and procedures to protect their customers from identity theft and to adequately address known risks posed by a cybersecurity vulnerability, the SEC said. In November 2021, a hacker gained access to Robinhood’s systems and downloaded information on more than seven million Robinhood customers. In 2022, Robinhood agreed to pay $20 million to settle a class-action lawsuit related to the breach.