Robinhood Markets Inc. said regulators are investigating the firm’s compliance with recordkeeping requirements, including employees’ use of “off-channel communications.”
The firm is cooperating with probes by the enforcement divisions of the Securities and Exchange Commission and Financial Industry Regulatory Authority, Menlo Park, California-based Robinhood said Wednesday in a quarterly filing.
The SEC is also looking into whether the brokerage followed rules about trade reporting related to securities lending and fractional share trading, according to the filing.
Source: Robinhood (HOOD) Faces Regulatory Probes Over Communications Compliance – Bloomberg
