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Warren presses Finra to review whether forced arbitration harms Robinhood customers
'Investors harmed by Robinhood’s trading restrictions should be able to argue their case in court, rather than in closed-door proceedings that are too often rigged against claimants,' Warren wrote in a letter to Finra CEO Robert W. Cook.
Robinhood’s ties to hedge funds still not clear, Warren says
Ahead of a House hearing Thursday with the company's CEO, the Massachusetts senator accused Robinhood of having inadequate cash on hand to manage a trading surge.
Fidelity hosts a Reddit AMA — but Robinhood steals the show
More than 1,300 comments from Redditors flooded the discussion, yet trading education was largely outshined by comments comparing Fidelity’s mobile app interface to Robinhood's.
GameStop fireworks are likely to bog down in a regulatory slog
Those who oversee the markets are not built to react quickly to disruptions within them. Theirs is a world of study and deliberation. They have to listen to a wide range of public input. and they often leave much regulatory ambiguity in place.
GameStop lawsuits allege ‘conspiracy’ bigger than Robinhood
Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.
The GameStop lawsuits are missing the point
A host of discount brokerages, including Robinhood, Charles Schwab and ETrade, are now facing accusations of market manipulation. The challenges are expected to face tall legal hurdles.
Warren asks Robinhood to explain trading restrictions
The Democratic senator wants to know whether the limits the online brokerage set on trading shares of GameStop and other companies were influenced by hedge fund investors or financial services partners.
Finra zeroes in on online brokerage apps
The broker-dealer self-regulator cited a surge of new retail investors entering the markets via online platforms, which has led to a spike in more sophisticated kinds of trading, such as options.
Robinhood adds market manipulation and gamification to a quiver of woes
The free-trading app faces renewed accusations that its platform is manipulative amid a decision to halt certain trades just a month after Massachusetts regulators accused it of ‘gamification.’
Robinhood raises $1 billion after trader revolt
Robinhood drew millions from bank credit lines as well as raising more than $1 billion from its existing investors.
Robinhood hit with lawsuits for blocking GameStop trades
While users of the trading platforms claim in court filings that they suffered losses from the restrictions, legal experts say brokerages have broad powers to block or restrict transactions — all of which is spelled out as part of customer agreements everyone signs to gain access to the services.
Brokerages spark outrage from lawmakers after halting GameStop trades
Trading platforms issued restrictions on GameStop, AMC and other shorted stocks that surged to unprecedented highs this week. Lawmakers like Rep. Alexandria Ocasio-Cortez, D-N.Y., and Sen. Ted Cruz, R-Texas, expressed deep concern.
How social media fueled the GameStop stock surge
The market frenzy was spurred by social media posts from prominent CEOs and internet influencers. The tweets and threads created internet mayhem and ultimately pushed the video game retail business to a $24 billion market cap.
Brokerage platforms falter during GameStop surge
The brokers with outages or problems include the most prominent names in the discount and online brokerage industry, including Fidelity, the Charles Schwab Corp., TD Ameritrade, ETrade Financial Corp. and Robinhood.
Day traders turning to advisers for help
Do-it-yourself investors found that market gyrations required constant attention and that their amateur trading tools were limited, so many have decided that they need professional help.
Wealthtech funding hits record $3.7 billion in 2020
Investments in wealthtech are expected to increase this year as millennial-friendly brokerages acquire large customer bases and expand product offerings. Industry trends including increased interest in sustainable investing and API integrations will serve as a catalyst for wealthtech funding through 2021.
Robinhood hires two Finra execs
As scrutiny of the online brokerage mounts and as it prepares for an IPO expected later this year, it has recruited two officials from its front-line regulator.
Will Walmart offer wealth management products?
Walmart announced the launch of a new company designed to offer digitally enabled financial products to its customers and employees. Its 265 million weekly customers makes it an attractive distribution channel to expand investing to underserved investors.
Robinhood under pressure for bringing ‘gamification’ to investing
The free trading app has been applauded for democratizing the market but critics, and regulators, are starting to take a closer look
Robinhood isn’t gamifying the markets. It’s democratizing them
The fintech led a movement to virtually eliminate commissions, cut racial investing disparities in half and dramatically increase stock ownership among investors
