U.S. bankers want federal regulators to investigate the short-selling of financial institutions as regional banks get clobbered in the stock market. The American Bankers Association (ABA) penned a May 4 letter to Securities and Exchange Commission (SEC) chair Gary Gensler, requesting that the regulatory body probe the substantial short sales of bank stocks that the…
Robinhood Discloses SEC Probe on Short Selling Rules Compliance
Robinhood Markets Inc. disclosed in a filing that the U.S. Securities and Exchange Commission has been probing the company’s compliance with short selling rules since October 2021. Robinhood said it received additional requests from the SEC in Q2 for information related to the company’s compliance with trade reporting requirements concerning securities and fractional share lending. The online…
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