NEW YORK (Reuters) – Online trading firm Robinhood Markets (NASDAQ:) has agreed to pay $45 million to settle U.S. Securities and Exchange Commission charges over record keeping, trade reporting and other rule violations, the regulator said on Monday.

Regulators found two Robinhood firms failed to comply with a broad array of requirements including accurately reporting trading activity, filing timely reports of suspicious activity, maintaining records on work communications and complying with short sale rules, said SEC acting director Sanjay Wadhwa in a statement.

A representative for Robinhood said in a statement the firm is pleased to have resolved the matters.