Robinhood has agreed to pay a $26 million fine to settle with the US Financial Industry Regulatory Authority (FINRA).

BlockBeats News, March 8th, according to Bloomberg, two subsidiaries of Robinhood Markets Inc. have agreed to pay $26 million to settle charges brought by the Financial Industry Regulatory Authority (FINRA) in the United States. FINRA accused Robinhood of failing to respond to warning signs of potential wrongdoing and failing to verify the identities of thousands of customers.

This fine from the brokerage industry regulatory body comes after Robinhood Securities and Robinhood Financial reached another $45 million settlement with the U.S. Securities and Exchange Commission (SEC) in January. The SEC accused the retail trading company of failing to keep records, not timely reporting suspicious activities, and other issues.

In the settlement agreement, both companies accepted the findings of the FINRA investigation without admitting or denying the charges, and agreed to commit to having rectified the issues in question.