Robinhood Chief Legal Officer: US SEC should not investigate at all
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February 24th news The Securities and Exchange Commission (SEC) has concluded its investigation into Robinhood Crypto (RHC), and Dan Gallagher, Chief Legal, Compliance and Corporate Affairs Officer at Robinhood Markets, Inc., said: "I appreciate the SEC staff." Deciding to end this investigation without taking any action, it needs to be clear that this investigation should not be launched at all, Robinhood Crypto always respects federal securities laws and will never allow securities trading. As we explain to the SEC, any All cases against Robinhood Crypto will fail, thanks to the formal end of this investigation, and it’s great to see the SEC return to the rule of law and commit to fairness.”
The U.S. Securities and Exchange Commission issued a Wells notice to Robinhood Crypto in May 2024, and Robinhood shares rose slightly by 2.4% in pre-market trading, while the stock fell 7.9% from the opening at the close of Friday. .