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Robinhood allegedly implied a fiduciary duty to novice investors in the marketing of its 'game-like' trading app, even though it's a FINRA-regulated broker-dealer, new class action charges

Three Florida firms sue claiming (IPO bound, Bloomberg reports) Robinhood allegedly failed to direct self-directed investors -- a claim that is both legally shaky, and potentially serious, experts say.

Author Oisin Breen November 17, 2020 at 4:54 AM
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Baiju Bhatt (left) and Vladimir Tenev (right) founded Robinhood in 2013. Now the firm's DIY model is challenged by a suit alleging its duty of care is not just skin deep.

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March 29, 2024 at 5:02 AM

Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff

Alan Moore replaces himself with another guy with two respectable titles • eMoney promotes two • Moisand's third in line now known • Robinhood sacks 173 in year-to-date.

July 26, 2023 at 2:34 AM

Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

Why FINRA's late appearance into smoothie-throwing broker James Iannazzo's life might be rough

It's been about 11 months since Merrill Lynch fired him, and the CFP Board stripped him of the CFP mark; attracting the SRO's attention means more woes.

December 29, 2022 at 1:05 AM

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