Fintech Insider Podcast by 11:FS cover image

740. News: Smart raises $95 million while Robinhood sparks all-night trading fears

Fintech Insider Podcast by 11:FS

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The Limits of Guidance and Advice in the Digital Banking Space

I think we're still struggling in the digital banking space with that boundary between guidance and advice. I think we're not seeing firms intervene as much as maybe we would like them when there are these great risks of customer harm. Robin had never seems that concerned about boundaries compared with some other firms. Is there a risk here that Robin has ends up coming under a lot of regulatory scrutiny? There was an awful incident where one investor had his balance appear to be zero and he thought he'd lost hundreds of thousands of dollars. So if you do think Robin had is sailing too close to the wind again?

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