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Robinhood Is Under Investigation Because Its CEO Is Not Registered With FINRA
Summary: According to Coindesk, popular crypto and stock trading platform Robinhood Financial disclosed in Tuesday’s regulation fling that its CEO, Vlad Tenev, is facing an investigation for failing to register with the U.S. Financial Industry Regulatory Agency (FINRA). FINRA requires people engaged in the securities business to register and pass a series of exams, with an ...
According to Coindesk, popular crypto and stock trading platform Robinhood Financial disclosed in Tuesday’s regulation fling that its CEO, Vlad Tenev, is facing an investigation for failing to register with the U.S. Financial Industry Regulatory Agency (FINRA).
FINRA requires people engaged in the securities business to register and pass a series of exams, with an aim of testing their ability to practice in the securities industry, as well as ensuring brokers have the most basic understanding and knowledge of the space.
Robinhood stated in the document that it received the "investigation request" on July 26 and was "evaluating this matter and intends to cooperate with the investigation."
According to Coindesk, Robinhood ever said that Tenev was exempt from FINRA registration because he was the CEO of the holding company Robinhood Markets, not the CEO of its trading subsidiary Robinhood Financial.
Tags: FINRA,Regulation,Robinhood,Vlad Tenev
Link: Robinhood Is Under Investigation Because Its CEO Is Not Registered With FINRA [Copy]
