SEC probes Robinhood's crypto desk for evidence of comingled funds Robinhood SEC SecuritiesandExchangeCommission
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
The brokerage firm made the revelation in its annual 10-K filing, which was submitted to the SEC on Monday. According to the filing, Robinhood received the subpoena around a month after FTX filed for bankruptcy, which followed bankruptcy filings by “several other major cryptocurrency trading venues and lending platforms earlier in 2022,” including Three Arrows Capital, Voyager Digital Holdings and Celsius Network.
The increased scrutiny of custody procedures likely stems from accusations that FTX and other crypto firms have illegally comingled user funds with corporate funds. Earlier in February, the SEC proposed a rule change related to how registered investment advisors handle the custody of their client's funds in response to concerns around comingling.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Robinhood receives investigative subpoena by SEC over crypto listingRobinhood, a leading American financial service provider, disclosed a subpoena by the United States Securities and Exchanges Commission (SEC). The disclosure was made on the company’s annual report published on February 27, 2023. As per the report, the subpoena is related to cryptocurrency listing and platform operations. Currently, the financial service provider has 18 cryptocurrencies […]
Read more »
Robinhood subpoenaed by SEC over brokerage's crypto business - BNN BloombergRobinhood said it was subpoenaed by the Securities and Exchange Commission as the regulator investigates the firm’s cryptocurrency business.
Read more »
Crypto counsel John Deaton challenges SEC’s narrative in courtThe pro-Ripple lawyer has been challenged by California plaintiffs in the ongoing Ripple SEC lawsuit. The outcome of the current case could have a major impact on the future of XRP and the cryptocurrency industry as a whole. In the ongoing Ripple lawsuit, California plaintiffs have challenged John E. Deaton, who filed a motion to […]
Read more »
Crypto lawyers question SEC Chair over claims of crypto being securityCrypto lawyers have criticized the U.S. SEC Chair’s comments. The SEC Chair claimed that every cryptocurrency except Bitcoin is a security subject to its jurisdiction. So far, SEC has either fined token creators or delisted them. Cryptocurrency lawyers have criticized the comments made by the head of the U.S. Securities and Exchange Commission, who claimed […]
Read more »
Canadian economy remained flat in fourth-quarter, contracted in DecemberStatistics Canada says real GDP was unchanged in the last three months of 2022, despite higher household and government spending as well as a stronger trade position for Canada
Read more »
Economy was flat in fourth quarter, contracted in December - BNN BloombergThe Canadian economy remained flat in the fourth quarter of 2022 following five consecutive quarters of growth.
Read more »