FINRA examines non-registration status of Robinhood CEO

Less than a month after Robinhood agreed to pay $70 million to settle charges brought by the United States Financial Industry Regulatory Authority (FINRA), it appears that the Authority is not done investigating the company and its top management.

In particular, FINRA is looking at the registration status (or, to say more precisely, the lack of registration) of certain members of Robinhood’s personnel. According to a document filed with the Securities and Exchange Commission (SEC) on July 27, 2021, Robinhood confirms the probe.

The document says that, on July 26, 2021, Robinhood Financial received a FINRA investigative request seeking documents and information related to its compliance with FINRA registration requirements for member personnel, including related to the FINRA non-registration status of Vlad Tenev (that is, Robinhood’s CEO) and Mr. Bhatt.

“Robinhood is evaluating this matter and intends to cooperate with the investigation”, the company states.

Vlad Tenev

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