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Robinhood’s ‘infinite money’ glitch has reportedly drawn regulatory scrutiny — and the company could be fined

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  • Robinhood’s “infinite leverage” glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday.
  • One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an “infinite money cheat code.”
  • The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior.
  • The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to read more >>>

    Source:: BusinessInsider.Com