Category Archives: SEC

Robinhood said to not be properly insured to offer checking & savings

Robinhood’s new high-interest, zero-fee checking and savings feature seems to be too good to be true. Users’ money may not be fully protected. The CEO of the Securities Investor Protection Corporation, a nonprofit membership corporation that insures stock brokerages, tells TechCrunch its insurance would not apply to checking and savings accounts the way Robinhood claims. “Robinhood would be buying securities for its account and sharing a portion of the proceeds with their customers, and that’s not what we cover,” says SIPC CEO Stephen Harbeck. “I’ve never seen a single […]

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Jina Choi, SF Regional Director of the SEC, is coming to Disrupt to talk ICOs and more

The Securities & Exchange Commission, the federal agency responsible for protecting investors and maintaining fair and orderly functioning of our securities markets, has 11 regional offices, including in Miami, New York, Boston, and Chicago, None has quite the workload as the SEC’s San Francisco regional office, where a major area of focus in recent years has been investor fraud in pre-IPO companies, particularly the many startups that in an earlier era would have either have gone public or else out of business, but which today linger as privately […]

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