Advertisement

Jumat, 18 Desember 2020

Robinhood pays $65 million SEC fine — Two Sigma's risk-analysis tool shows big uptick — Intuit-Credit Karma deal closes

 
Subscribe to Business Insider View in browser
 
 
 
INSIDER FINANCE
 
 
 
 

Happy Friday!

Big news on Thursday was Robinhood getting hit with a $65 million fine to settle a probe from the Securities and Exchange Commission over misleading communications to its customers.

In short, from 2015 to late 2018 Robinhood didn't properly disclose it received payment for order flow (a common industry practice of selling clients orders to trading firms to execute). The SEC alleged the fintech also falsely claimed its execution quality was as good, or better, than competing brokers. Robinhood's prices were actually worse for customers, costing them a total of $34.1 million, according to the SEC.

If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco


Two Sigma has seen take-up surge for its risk-analysis tool Venn this year

david siegel

As money managers' margins continue to get compressed, firms are looking for new lines of business.

For quantitative fund Two Sigma, that meant rolling out Venn, a risk-analysis tool for allocators of assets.

Bradley Saacks and Carter Johnson have a nice update on how things at Venn have been going. In short, business is booming. 

Click here to read the entire story.


Intuit and Credit Karma's CEOs explain how combining credit and tax data on a 'massive' scale are key

Sasan Goodarzi, CEO of Intuit, and Ken Lin, co-founder and CEO of Credit Karma

Intuit's $8.1 billion acquisition of Credit Karma is officially closed. Shannen Balogh spoke with both CEOs to understand what's next for the combined company, and why data will play a key role. Read more here


Odd lots:

Mike Novogratz Backs Volatility Fund Betting Covid-Hit Trade Rebounds (Bloomberg)

Investment platforms scramble to retain new customers (FT)

EXCLUSIVE: Expensify wants to become a public company by summer 2021, and the CEO is eyeing a direct listing (BI)

T. Rowe Price Executive Stares Down Threat From Private Markets (Bloomberg)

Goldman Trading Bonus May Jump Nearly 20% After Year's Windfall (Bloomberg)

 
 
 
 
 
Was this email forwarded to you?
 
Download on the app store   Get it on google play
 
You received this email because you signed up to this
Business Insider newsletter using the
email: ipat39@gmail.com
 
Email preferences Unsubscribe
TERMS OF SERVICE PRIVACY POLICY
1 Liberty Plaza, 8th Floor. New York, NY 10006
 

Tidak ada komentar:

Posting Komentar