SEC Staff To Recommend The SEC To File Enforcement Action Against Robinhood Crypto

RTTNews | Před 541 dny
SEC Staff To Recommend The SEC To File Enforcement Action Against Robinhood Crypto

(RTTNews) - Robinhood Markets, Inc. (HOOD) revealed on Monday in an Form 8-K filing with the U.S. Securities and Exchange Commission that Robinhood Crypto LLC or RHC, received a "Wells Notice" from the Staff of the SEC stating that the Staff has advised RHC that it made a "preliminary determination" to recommend that the SEC file an enforcement action against RHC alleging violations of Sections 15(a) and 17A of the Securities Exchange Act of 1934, as amended.

The potential action may involve a civil injunctive action, public administrative proceeding, and/or a cease-and-desist proceeding and may seek remedies that include an injunction, a cease-and-desist order, disgorgement, pre-judgment interest, civil money penalties, and censure, revocation, and limitations on activities.

RHC had received investigative subpoenas from the SEC) regarding, among other topics, RHC's cryptocurrency listings, custody of cryptocurrencies, and platform operations. RHC has cooperated with this investigation.

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