News for hackers. Stuff that matters.
Re:Robinhood to pay $70M for 'systemic supervisory failures' by gruez on Wednesday June 30, 2021 @01:30PM (#27691236)
>I feel that by having my investments in Robinhood, I'm adding some sort of risk multiplier that has nothing to do with the nature of my investments. It has to do mainly with how amateur-ish their brokerage operation feels.

In the sense that they'll collapse and you'll lose your portfolio, or that they'll be down at a critical time you want to make a trade? For a buy and hold type of investor, the latter isn't really a concern.

Re:Robinhood to pay $70M for 'systemic supervisory failures' by hangonhn on Wednesday June 30, 2021 @01:34PM (#27691282)
Even if they collapse you shouldn't lose your portfolio. These people https://en.wikipedia.org/wiki/Depository_Trust_Company keeps track of what you own.
Re:Robinhood to pay $70M for 'systemic supervisory failures' by vageli on Wednesday June 30, 2021 @02:01PM (#27691618)
Aren't there limits to the amount covered? Even the FDIC limits recovery amounts.
Re:Robinhood to pay $70M for 'systemic supervisory failures' by gruez on Wednesday June 30, 2021 @02:12PM (#27691755)
AFAIK DTCC provides zero coverage, that's handled by SIPC and is limited to 500k
Re:Robinhood to pay $70M for 'systemic supervisory failures' by tedunangst on Wednesday June 30, 2021 @05:48PM (#27693773)
Even if RH fails in some spectacular way, it'd be hard for all the customer assets to actually vanish. If you have 10000 shares of AAPL, but only 9000 shares are there, should still be good.

For funsies, the open SIPC cases: https://www.sipc.org/cases-and-claims/open-cases/