SEC Ends Robinhood Probe No Action

SEC Ends Investigation into Robinhood Without Enforcement Action

• The U.S. SEC has ended its investigation into Robinhood, a leading retail trading app.
• The investigation was initiated with a Wells Notice sent in May of last year.
• Robinhood CEO Vlad Tenev stated the company met with the SEC over 15 times in good faith.
• Dan Gallagher, Robinhood’s chief legal officer, expressed satisfaction with the decision.

The SEC has closed its investigation into Robinhood without taking any enforcement action. This follows a series of meetings between Robinhood and the SEC after receiving a Wells Notice last year.