- Robinhood Markets Inc HOOD disclosed in a filing that the U.S. Securities and Exchange Commission has been probing the company's compliance with short selling rules since October 2021.
- Robinhood said it received additional requests from the SEC in Q2 for information related to the company's compliance with trade reporting requirements concerning securities and fractional share lending.
- The online brokerage firm has faced several regulatory actions in recent years.
- Also Read: Robinhood CEO Says Crypto Additions Are Slow — But It Will 'Pay Off In Long-Term'
- Earlier this week, Robinhood's cryptocurrency arm was fined $30 million by the New York State Department of Financial Services, accusing the firm of violating anti-money-laundering and cybersecurity rules.
- In 2020, the SEC fined Robinhood $65 million for misleading its customers about a key source of revenue, called payment for order flow. The firm didn't admit or deny wrongdoing in that case.
- Price Action: HOOD shares are down 1.84% at $10.12 during the premarket session on the last check Thursday.
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HOODRobinhood Markets Inc
$99.10-0.86%
Edge Rankings
Momentum
98.68
Growth
95.96
Quality
N/A
Value
10.68
Price Trend
Short
Medium
Long
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