Robinhood Reports Finra Request for Documents and Information

Robinhood’s RHF unit on July 26 received a Finra investigative request “related to its compliance with Finra registration requirements for member personnel,” according to an amended filing.

• Request includes Finra non-registration status of founders Vladimir Tenev and Baiju Bhatt
• Robinhood says it’s evaluating the matter and intends to cooperate
• Company still plans IPO of 55m shares, including 52.375m offered by the company and 2.625m offered by holders
• Robinhood still sees IPO pricing at $38 to $42 per share
• NOTE: Robinhood’s Luster Stained Again With a Record $70 Million Fine

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