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Robinhood's Top Atty Earned $30M In 2020, IPO Docs Show


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Robinhood s Top Atty Earned $30M In 2020, IPO Docs Show
Law360 (July 1, 2021, 10:03 PM EDT) Robinhood s chief legal officer, who is a former WilmerHale partner and former U.S. Securities and Exchange Commission commissioner, earned a $30.1 million pay package last year, according to initial public offering documents that were unveiled Thursday, a day after Robinhood agreed to pay $70 million to end federal regulator s claims over its alleged systemic failures.
Daniel Gallagher Jr. s compensation came to light in Robinhood Market Inc. s registration statement filed with the SEC, which outlines the details of the trading app s highly anticipated IPO and sets a preliminary funding target of $100 million. ....

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Massachusetts regulators file to revoke Robinhood's broker-dealer license


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Robinhood Market Inc. faces the risk of losing its license to offer stock trading in Massachusetts after the state’s regulators sought the revocation of its broker-dealer license.
The Massachusetts Securities Division said in an administrative complaint filed today that Robinhood should have its license revoked because it fails to protect vulnerable users and “poses a substantial and continued risk to Massachusetts investors.”
The attempt to have Robinhood’s license revoked is an extension of a case filed by the state in December accusing the company of violating state fiduciary rules for the conduct of broker-dealers. Among the accusations was that Robinhood uses strategies that treated trading as a game to lure young, inexperienced customers, Reuters reports, along with including having confetti rain down for each trade made on its app. ....

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Gensler staffs up at SEC


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04/16/2021 08:00 AM EDT
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NFTs, crypto madness and blockchain in the enterprise


NFTs, crypto madness and blockchain in the enterprise
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When a piece of digital art sells for $69. million, more than has ever been paid for works by Paul Gauguin or Salvador Dali, and makes its creator the third most expensive living artist in the world, one can’t help but take notice and ask: “What is going on?”
The latest craze around nonfungible tokens, or NFTs, may feel a bit bubblicious, but it’s yet another sign that the digital age is now fully upon us. In this Breaking Analysis we want to take a look at some of the trends that may have observers and investors scratching their heads, but we think still offer insight to the future and possibly some opportunities for young investors. And we’ll briefly touch on how these trends may relate to enterprise tech. ....

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