(2024)
SEC v. Robinhood Crypto
Year
2024
Criminal or Civil
Civil (Regulatory Enforcement)
Year Resolved
2025
Jurisdiction (Court/State)
SEC Administrative Proceeding (Federal – Not specified to a particular court)
Filed By
U.S. Securities and Exchange Commission (SEC)
Penalty/Fine (USD)
$45 million
Lawsuit Overview
Robinhood agreed to a $45 million settlement with the SEC over failures in recordkeeping, trade reporting, and filing suspicious activity reports. The settlement involves Robinhood Securities LLC and Robinhood Financial LLC, and it does not resolve ongoing investigations into Robinhood’s crypto business.
Category
Regulatory Violations – Recordkeeping, Trade Reporting, Compliance Failures
Notable Individuals Involved
Sanjay Wadhwa (SEC Acting Director of Enforcement)
Dan Gallagher (Chief Legal Officer, Robinhood)
Company: Robinhood Securities LLC & Robinhood Financial LLC
Investor Loss Estimate
Not quantified in dollar terms; damages relate to regulatory lapses affecting market transparency and customer protections.
Final Outcome
Settled with a cease-and-desist order. Robinhood did not admit or deny the allegations. Crypto investigations remain ongoing.
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