Complaints & Research — Robinhood in the Public Record

News & Regulatory Regulatory action

FINRA fines Robinhood $29.75M (incl. $3.75M restitution) for AML, supervisory and disclosure failures

FINRA ordered the Robinhood broker-dealers to pay $29.75 million total ($26M in fines + $3.75M restitution to customers) for anti-money-laundering program failures, supervisory failures (including oversight of clearing technology and social-media promotions), and disclosure issues.

Customer Support Mar 2025

FINRA (finra.org) View original source

News & Regulatory Regulatory action

Two Robinhood broker-dealers to pay $45 million for violating more than 10 securities-law provisions

The SEC announced that Robinhood Securities ($33.5M) and Robinhood Financial ($11.5M) agreed to pay $45 million combined to settle charges spanning recordkeeping and off-channel communications, suspicious-activity reporting, short-sale (Reg SHO) rules, identity-theft protection, and more.

CryptoCustomer Support Jan 13, 2025

U.S. Securities and Exchange Commission (SEC.gov) View original source

News & Regulatory Regulatory action

Robinhood to pay $70 million — the largest-ever FINRA penalty — for outages and misleading customers

FINRA ordered Robinhood to pay about $70 million ($57M fine + roughly $12.6M restitution) — its largest penalty ever — citing systemic supervisory failures, giving customers false or misleading information, and harm from platform outages. The signed FINRA settlement (AWC) is published on finra.org.

Customer SupportMedia Coverage Jun 30, 2021

CNBC (reporting on FINRA action; official FINRA settlement on finra.org) View original source

News & Regulatory Regulatory action

Robinhood restricts buying of GameStop and other 'meme stocks' — lawsuits and a Congressional hearing follow

Amid extreme volatility, Robinhood restricted customers from buying GameStop (GME), AMC and several other stocks, allowing only sells/closes. The move drew roughly 50 lawsuits and class actions and a Feb 18, 2021 U.S. House Financial Services Committee hearing. A consolidated antitrust case was later dismissed and the Eleventh Circuit affirmed that dismissal in 2024.

RestrictionsMedia Coverage Jan 28, 2021

CNBC View original source

News & Regulatory News report

Former Robinhood workers detail complaints about customer service (CBS News investigation)

Former Robinhood customer-service workers described complaints about the company's support in a CBS News investigation connected to a lawsuit over the death of 20-year-old customer Alex Kearns. (The CBS segment is also the video linked in the YouTube section below.)

Customer SupportMedia Coverage 2021

CBS News View original source

News & Regulatory Official Robinhood response

Robinhood expands customer phone support following the CBS News investigation

After criticism of its support, Robinhood said it would expand customer phone support — an example of the company responding publicly to the customer-service complaints.

Customer SupportMedia Coverage 2021

CBS News View original source

YouTube News report

CBS News — Former Robinhood workers detail customer complaints

CBS News segment in which former Robinhood workers describe customer-service complaints.

Customer SupportMedia Coverage 2021

CBS News (via YouTube) View original source

News & Regulatory Regulatory action

SEC charges Robinhood Financial with misleading customers about revenue sources and failing best execution

Robinhood agreed to pay $65 million to settle SEC charges that it misled customers about how it made money (payment for order flow) and failed to deliver the best execution it promised on trades. Robinhood did not admit or deny the findings.

Customer Support Dec 17, 2020

U.S. Securities and Exchange Commission (SEC.gov) View original source

News & Regulatory Regulatory action

Massachusetts Securities Division files 'gamification' complaint against Robinhood (later settled)

In December 2020 the Massachusetts Securities Division filed an administrative complaint alleging Robinhood used 'gamification' and aggressive tactics to attract inexperienced investors and failed to protect them. Robinhood contested it (and challenged the state's fiduciary-duty rule); the matter was later settled.

Dec 2020

Massachusetts Securities Division (law-firm analysis, Mintz) View original source

YouTube User opinion

My Robinhood Account Got Restricted

A creator's personal, first-hand account of having their Robinhood account restricted.

Restrictions

YouTube — individual creator View original source

YouTube User opinion

Why I Cancelled Robinhood

A creator explaining, in their own words, why they left the platform.

Customer Support

YouTube — individual creator View original source

YouTube User opinion

WTF Robinhood - I'm DONE!

A creator's frustrated account of their experience with the platform.

Customer SupportRestrictions

YouTube — individual creator View original source

YouTube Allegation

Suing Robinhood

A creator describing legal action they say they are taking against Robinhood (their own allegations).

Restrictions

YouTube — individual creator View original source

YouTube Allegation

Suing Robinhood - Again

A follow-up video continuing the creator's account of legal action (their own allegations).

Restrictions

YouTube — individual creator View original source

YouTube Allegation

Suing Robinhood - The Aftermath

The creator's update on what happened afterward (their own allegations).

Restrictions

YouTube — individual creator View original source

Reddit Live search

Live Reddit search: "Robinhood account restricted"

Opens Reddit's live results for account-restriction reports, newest first. Read the original posts, dates, upvotes and any resolution updates directly on Reddit.

Restrictions Live