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The SEC's stated mission is "to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation." I would equate Robinhood co
by dcist 6y ago
The SEC's stated mission is "to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation." I would equate Robinhood consumers with investors.
And plaintiff securities class action law firms are undoubtedly drafting complaints as we type.
- jessriedel 6y agoThe idea is that the SEC doesn't represent investors in court. They aren't suing for actual damages (losses) incurred by the investors. They are assessing Robinhood with a penalty (fine) for violating a regulation.