Massachusetts Seeks Revocation of Robinhood’s Registration

Massachusetts Seeks Revocation of Robinhood’s Registration - WSJ

The move for revocation follows a December filing by the office of William Galvin. the secretary of the commonwealth. that accused the brokerage of aggressively marketing to inexperienced investors.

Massachusetts securities regulators on Thursday asked that Robinhood Financial LLC’s registration as a broker-dealer in the state be revoked to prevent the popular online brokerage from doing business there. The regulators said Robinhood has “continued a pattern of aggressively inducing and enticing trading among its customers.

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