Statement of SEC Regarding Recent Market Volatility

Re:Statement of SEC Regarding Recent Market Volatility by youkoulele on Friday January 29, 2021 @10:46AM (#25958434)

Why would the SEC punish Robinhood for not having enough collateral to trade very volatile stocks.

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Re:Statement of SEC Regarding Recent Market Volatility by adjkant on Friday January 29, 2021 @02:43PM (#25961474)

IANAL but some possible reasons:

1. For lying about that reason to customers

2. for not shutting down all trading on their app (allowing sells of GME without manipulated the market, even if blocking sells would also have bad effects)

3. For allegedly tipping off Citadel before shutting off GME trading (unconfirmed but they will likely investigate this claim)

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Re:Statement of SEC Regarding Recent Market Volatility by youkoulele on Friday January 29, 2021 @03:45PM (#25962259)

Yeah it's worth investigating if they are at fault somewhere.

But many people seem to think that the SEC will punish them simply because they stopped allowing people to buy more GME.

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Re:Statement of SEC Regarding Recent Market Volatility by zamadatix on Friday January 29, 2021 @05:40PM (#25963735)

I think everyone knows it wasn't simply that though, hence the outrage.

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Re:Statement of SEC Regarding Recent Market Volatility by SkyPuncher on Friday January 29, 2021 @11:35PM (#25966102)

Information I've seen is they selectively applied that ruling.

"Big fish" were still able to get an account manager to process their trades while the button buy was disabled for everything else.

There's also a seeming conflict of interest with Citadel's involvement in both RH and Melvin.

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