NEW YORK — Robinhood Financial will pay a $57 million fine and return another $12.6 million to thousands of its customers to settle accusations of a wide range of supervisory failures, such as hurting customers by giving them misleading information and improperly allowing some to make riskier trades.

The financial penalty is the largest ever ordered by FINRA and “reflects the scope and seriousness of Robinhood’s violations,” said Jessica Hopper, head of FINRA’s department of enforcement.

Robinhood neither admitted nor denied the charges in the settlement. In a blog post Wednesday, Robinhood detailed how it has improved support for its customers, including talking with a service representative.