Robinhood Paid Millions in Fines. Here’s One Way a Regulator Plans to Use the Money.

Industry self-regulator Finra is funding a new education initiative aimed at first-time investors with $30 million in fines collected from trading app Robinhood Markets (ticker: HOOD).

Finra laid out its intentions in a new report on how it will spend $90.1 million in fines it collected in 2021. The regulator said the multi-year education initiative will “explore innovative ways to reach and educate investors, especially new, self-directed retail investors who conduct transactions through online accounts or via mobile apps.”