Robinhood’s ‘infinite money’ glitch has reportedly drawn regulatory scrutiny — and the company could be fined
|11/08/2019||Posted by BusinessMediaguide.Com under General World News||
- 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 >>>