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Robinhood has agreed to fork out $ 45 million to settle an probe by the Securities and Exchange Commission over several aver violation , reportedthe Wall Street Journal on Monday .
The colony is being made via two of Robinhood ’s brokerage whole . One of the violations relates to Robinhood’sNovember 2021 confirmationthat it was hack “ with more than five million client electronic mail addresses and two million customer names taken , as well as a much smaller bent of more specific customer information . ”
The SEC alleged that the two unit covered by the settlement — Robinhood Securities and Robinhood Financial — did not “ adopt sufficient policy and procedures to protect customer information , ” reported the WSJ .
The Robinhood units also did not put a program in place to sufficiently protect customers against identity thievery , the SEC also charged .
