diff --git a/Institutions/Brokers/Robinhood/2021-06-30-FINRA-fines-Robinhood-70-Million.md b/Institutions/Brokers/Robinhood/2021-06-30-FINRA-fines-Robinhood-70-Million.md
new file mode 100644
index 0000000..6c84626
--- /dev/null
+++ b/Institutions/Brokers/Robinhood/2021-06-30-FINRA-fines-Robinhood-70-Million.md
@@ -0,0 +1,34 @@
+FINRA fines Robinhood $70M
+==========================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/dlauer](https://www.reddit.com/user/dlauer/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oazd4f/finra_fines_robinhood_70m/) | 
+
+---
+
+[News 📰 | Media 📱](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22News%20%F0%9F%93%B0%20%7C%20Media%20%F0%9F%93%B1%22&restrict_sr=1)
+
+FINRA just announced a major enforcement action against Robinhood for $70M, which breaks down to $57M fines and $12.6M restitution to clients. Here's the [press release](https://www.finra.org/media-center/newsreleases/2021/finra-orders-record-financial-penalties-against-robinhood-financial), and the [full action](https://www.finra.org/sites/default/files/2021-06/robinhood-financial-awc-063021.pdf).
+
+This is a pretty standard enforcement action - Robinhood neither admits nor denies the findings, and it's essentially a slap on the wrist. Robinhood [collected $331M in PFOF](https://www.cnbc.com/2021/05/03/robinhood-made-331-million-from-clients-trading-activity-in-q1-2021.html) in Q1 2021.
+
+Robinhood intentionally mislead their customers:
+
+[![r/Superstonk - FINRA fines Robinhood $70M](https://preview.redd.it/3tcb469l5f871.png?width=725&format=png&auto=webp&s=2d019e5e9180d93e8a3ca8e295c3d670cc23c943)](https://preview.redd.it/3tcb469l5f871.png?width=725&format=png&auto=webp&s=2d019e5e9180d93e8a3ca8e295c3d670cc23c943)
+
+There are many other violations in the order. Among them:
+
+-   Failure to exercise due diligence before approving options accounts
+
+-   Failure to supervise technology critical to providing customers with core broker-dealer services
+
+-   Failure to create a reasonably designed business continuity plan
+
+-   Failure to report customer complaints to FINRA
+
+-   Failure to have a reasonably designed customer identification program
+
+-   Failure to display complete market data information
+
+This is a pretty disturbing set of violations, and honestly it's surprising that they can continue to operate as a broker-dealer. This is an important enforcement action, but overall I'd call it a disappointment in terms of the cost to Robinhood and the remedial actions they need to take.