The bad news for stock brokerage firm Robinhood, its retail customers and investors keeps on coming.
Last week, the firm that claimed to be launching a ‘new Wall Street’ announced its latest round of layoffs, bringing the total job cuts since April to about one-third of its entire workforce. This announcement came shortly after Robinhood received its latest regulatory sanction — this time by the New York Department of Financial Services, which fined the brokerage $30 million for violating anti-money-laundering, cybersecurity and consumer protection rules.