From Nasdaq: 2024-05-07 11:33:00

1. Robinhood Crypto, a branch of Robinhood Markets, Inc., may face enforcement action from the SEC for violating registration rules as a securities broker and transfer agent. The company argues that the assets listed on its platform are not securities and hopes to clarify its position with the SEC.

2. Bank of America is likely to face a lawsuit for failing to refund overdraft fees during the pandemic. Stifel Financial Corp. subsidiaries will pay fines for violating FINRA rules on non-traditional exchange-traded products.

3. The market has historically performed well in presidential election years after negative midterm years, regardless of the winning party. Zacks offers a free Special Report with 5 stocks for extreme upside potential under different political outcomes.

4. In recent years, Robinhood has faced legal challenges and penalties from different regulators. The company has also faced litigations for its operations, including a case against the Massachusetts Secretary of State and a fine from the New York Department of Financial Services.

5. Shares of Robinhood have surged over the past six months compared to the industry average. Despite legal threats from the SEC, the impact on the company’s business may not be substantive due to its diversified revenue streams and the relatively low proportion of crypto revenues to total revenues.

Read more at Nasdaq: Robinhood (HOOD) Gets SEC’s Notice for US Crypto Business