Robinhood failed to disclose data on an unknown number of fractional share trades, Reuters reported.
The trading app launched its fractional-share service in December 2019, but only began reporting trades this year.
US regulators have previously fined other brokerages for violating trade reporting rules.
US-based trading app Robinhood failed to disclose data on certain stock trades for more than a year, Reuters reported on Thursday.
The data relates to stock trades executed under its fractional-share service launched in December 2019.
Fractional shares allow investors to hold partial shares of a company’s stock. Instead of spending $650 on a Tesla share, one can spend a much lower amount to own a portion or fraction of a share.
Financial brokerages are required to publicly disclose all trades, including those smaller than a share, to trade-execution facilities under Financial Industry Regulatory Authority (FINRA) and Securities and Exchange Commission rules, Reuters said.