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Robinhood Faces Uncertain Future with Lawsuits and Potential Regulatory Action

Robinhood Faces Uncertain Future with Lawsuits and Potential Regulatory Action

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EuropeFintechNews Roundup
··1 min read

Robinhood has been one of the hottest startups in fintech but the firm has run into a number of issues recently with three major outages; these outages have led to a class action lawsuit being filed in Florida due to angry customers seeking reimbursement; “We don’t think they were set up to do it properly,” Mike Taaffe, a Florida-based attorney, tells FinTech Futures. “I think this will force the various state regulators to consider whether they give licences to companies trading purely online without sufficient back-up.”; traders have also filed complaints with the SEC and Finra over the issues and those could force regulators to take a closer look at the fintech; the company is soon launching in the UK and could face further scrutiny there over the same issues; the company is back operating normally but the damage could potentially change Robinhood’s future in the U.S. and UK. Fintech Future

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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