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A TOS isn't law. What Robinhood did altered the market price of several major stocks including AMC and BB. They will almost certainly be getting yet another SEC

A TOS isn't law. What Robinhood did altered the market price of several major stocks including AMC and BB. They will almost certainly be getting yet another SEC investigation. Being free doesn't allow you to commit crimes.

gowld 6y ago
WSB altered the market price far more than RH did.
- antonzabirko 6y ago
  WSB is not an entity though
- paulddraper 6y ago
  WSB isn't a brokerage; it's an investment forum. But sure, sue Reddit too if you want. You'd still have the RH manipulation.
- zucker42 6y ago
  WSB is a forum, not a person or company.
  - gowld 6y ago
    It's a group of people coordinating activity.
- Lewton 6y ago
  By participating in the market
- sofixa 6y ago
  WSB isn't a single, regulated ( brokers are), entity, it's just a bunch of people getting together. The entities that altered the price were notably - the shorting hedge funds and the broker that failed to do its job ( broker trades) in a blatant conflict of interest.
jjtheblunt 6y ago
Is a TOS a contract once agreed to?
- throw_m239339 6y ago
  > Is a TOS a contract once agreed to? A contract is only valid if its clauses are legal. TOS are regularly deemed invalid by regulators/courts and contracts made void. Ask the EU and their huge fines on FAANGS...
- bpicolo 6y ago
  ToS terms can't permit you to break the law, in either case. Same as contracts.
- dathinab 6y ago
  Contracts still don't allow you to brake laws including anti-marked manipulation regulations. But besides that in many countries (idk. about the US) TOS are quite more limited in what they can contain then "normal" contracts. E.g. if you write in that the user agreeing to it must allow the company to buy their house (if they have one) for marked value anytime the company wants would be not legal, but could be legal in a contract. (And could also be non-legal in a contract under some circumstances). Anyway it's widespread and common for TOS to contain non-legal clauses which due to the way a TOS is made are as if they are not written in there (i.e. they just invalidate themself not the whole contract). So in the end the question is: - Is it directly against a law/regulation, in which case TOS doesn't help at all. - Or if it's not against law per-see is it still not legal because it's in the TOS and due to <enter TOS related laws> not legal binding (I wouldn't put hope into this in the US, but I don't know US law wrt. this aspect).

gowld 6y ago

WSB altered the market price far more than RH did.

antonzabirko 6y ago
WSB is not an entity though
paulddraper 6y ago
WSB isn't a brokerage; it's an investment forum. But sure, sue Reddit too if you want. You'd still have the RH manipulation.
zucker42 6y ago
WSB is a forum, not a person or company.
- gowld 6y ago
  It's a group of people coordinating activity.
Lewton 6y ago
By participating in the market
sofixa 6y ago
WSB isn't a single, regulated ( brokers are), entity, it's just a bunch of people getting together. The entities that altered the price were notably - the shorting hedge funds and the broker that failed to do its job ( broker trades) in a blatant conflict of interest.

jjtheblunt 6y ago

Is a TOS a contract once agreed to?

throw_m239339 6y ago
> Is a TOS a contract once agreed to? A contract is only valid if its clauses are legal. TOS are regularly deemed invalid by regulators/courts and contracts made void. Ask the EU and their huge fines on FAANGS...
bpicolo 6y ago
ToS terms can't permit you to break the law, in either case. Same as contracts.
dathinab 6y ago
Contracts still don't allow you to brake laws including anti-marked manipulation regulations. But besides that in many countries (idk. about the US) TOS are quite more limited in what they can contain then "normal" contracts. E.g. if you write in that the user agreeing to it must allow the company to buy their house (if they have one) for marked value anytime the company wants would be not legal, but could be legal in a contract. (And could also be non-legal in a contract under some circumstances). Anyway it's widespread and common for TOS to contain non-legal clauses which due to the way a TOS is made are as if they are not written in there (i.e. they just invalidate themself not the whole contract). So in the end the question is: - Is it directly against a law/regulation, in which case TOS doesn't help at all. - Or if it's not against law per-see is it still not legal because it's in the TOS and due to <enter TOS related laws> not legal binding (I wouldn't put hope into this in the US, but I don't know US law wrt. this aspect).