Hi! It’s Monday, August 8, 2022. The Rundown Tough week in the Sherwood Forest: Robinhood was fined $30 million by New York's Department for Financial Services (NYDFS) for compliance failures that caused it to violate the state’s anti-money laundering and cybersecurity requirements. According to NYDFS Superintendent Adrienne Harris, the company “failed to invest the proper resources and attention to develop and maintain a culture of compliance,” only the latest indicator that state and federal regulators across the country are taking increasingly hard looks at the operating practices of fintech firms under their aegis. We’ve written recently about the
Fintech Update, 8/1 - 8/7
Fintech Update, 8/1 - 8/7
Fintech Update, 8/1 - 8/7
Hi! It’s Monday, August 8, 2022. The Rundown Tough week in the Sherwood Forest: Robinhood was fined $30 million by New York's Department for Financial Services (NYDFS) for compliance failures that caused it to violate the state’s anti-money laundering and cybersecurity requirements. According to NYDFS Superintendent Adrienne Harris, the company “failed to invest the proper resources and attention to develop and maintain a culture of compliance,” only the latest indicator that state and federal regulators across the country are taking increasingly hard looks at the operating practices of fintech firms under their aegis. We’ve written recently about the