The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say.
The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.
To convince skeptical bankers about the benefits of distributed ledger technology, some suggest it needs to be separated from the volatile digital currency it underlies.
Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.
It’s possible for a cryptocurrency to begin as a security and then transform into another type of asset, said William Hinman, who heads the regulator's division of corporation finance.
The Renton, Wash., company, which has acquired or opened nine branches since 2015, has filed a shelf registration to raise the funds through the sale of various securities.
Fears about regulators coming down on digital currency trading caused an epic crash in the market this week. But reining in this evolving asset class won't be easy.
Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.
The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.
