Shiva Ganesh
Robinhood received a Wells notice from the SEC, indicating a preliminary decision to suggest enforcement proceedings.
The SEC is considering enforcement options due to alleged violations of the Securities Exchange Act of 1934.
Possible actions include an injunction, a public administrative proceeding, or a cease-and-desist order.
Robinhood asserts that the assets listed on its platform are not securities and is prepared to engage with the SEC.
Despite the legal scrutiny, Robinhood's diversified revenue streams may mitigate the impact on its overall business. Read More Stories
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